Columbia Financial CEO updates equity awards
Columbia Financial, Inc. President & CEO Thomas J. Kemly reported routine updates to his equity holdings.
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Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. President & CEO Thomas J. Kemly reported routine updates to his equity holdings. On May 1, 2026, he forfeited 32,558 shares of performance-based restricted stock back to the company after performance objectives were not fully achieved, while 6,512 shares from the same May 1, 2023 grant were determined to vest. He also acquired 96.5034 phantom stock units at $19.25 per unit through a non-qualified stock-based deferral plan, to be settled in shares upon distribution. Following the disposition, he held 249,269 shares of common stock directly, alongside indirect and deferred holdings and a substantial package of vested and vesting stock options.
Insider Trade Summary
15 transactions reported
Mixed
15 txns
Insider
Kemly Thomas J.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 96.5034 | $19.25 | $2K |
| Disposition | Common Stock | 32,558 | $0.00 | $0.00 |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 69,235.9897 shares (Indirect, By Stock-Based Deferral Plan);
Common Stock — 249,269 shares (Direct);
Stock Options (right to buy) — 917,759 contracts (Direct);
Common Stock — 40,946 shares (Indirect, By 401(k));
Common Stock — 8,689 shares (Indirect, By ESOP);
Common Stock — 35,309 shares (Indirect, By SERP);
Common Stock — 41,572 shares (Indirect, By SIM);
Common Stock — 5,933 shares (Indirect, By Spouse);
Common Stock — 46,078 shares (Indirect, By Stock Award III);
Common Stock — 54,690 shares (Indirect, By Stock Award IV);
Common Stock — 53,842 shares (Indirect, By Stock Award V)
Footnotes (10)
- F1. Represents phantom stock purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan. Stock unit interests under the Columbia Bank Stock Based Deferral Plan will be settled in shares of stock upon distribution to the reporting person.
- F2. Represents the forfeiture of performance-based restricted stock granted to the reporting person on May 1, 2023 that were eligible to vest based on certain performance objectives. On May 1, 2026 the Company determined that, based on the Company's performance over the applicable performance period, 6,512 shares would vest and 32,558 shares would be forfeited.
- F3. The number of shares held directly includes certain shares that were previously held by Stock Award and that have subsequently vested.
- F4. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, 25% of which vest in three approximately equal annual installments commencing on March 6, 2025; and the remaining 75% of which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award.
- F5. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on March 3, 2028.
- F6. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on March 2, 2029.
- F7. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F8. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 6, 2025.
- F9. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 3, 2026.
- F10. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 2, 2027.
Key Figures
Forfeited performance-based shares: 32,558 shares
Vested performance-based shares: 6,512 shares
Phantom stock acquired: 96.5034 units at $19.25
+4 more
7 metrics
Forfeited performance-based shares
32,558 shares
Performance-based restricted stock forfeited on May 1, 2026
Vested performance-based shares
6,512 shares
Portion of May 1, 2023 performance grant determined to vest
Phantom stock acquired
96.5034 units at $19.25
Stock-Based Deferral Plan acquisition on May 1, 2026
Direct common shares after disposition
249,269 shares
Direct ownership following issuer disposition of 32,558 shares
Indirect deferral plan holdings
69,235.9897 shares
Total common stock units via Stock-Based Deferral Plan after acquisition
Largest option grant
656,471 shares at $15.60
Stock options expiring July 23, 2029, direct ownership
Additional option grant
94,749 shares at $16.23
Stock options expiring March 3, 2035, direct ownership
Key Terms
phantom stock, rabbi trust, non-qualified stock-based deferral plan, performance-based restricted stock, +2 more
6 terms
phantom stock financial
"Represents phantom stock purchased, on a non-discretionary basis, by the trustee"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
rabbi trust financial
"by the trustee of the Bank's rabbi trust maintained in connection with the Columbia Bank Stock Based Deferral Plan"
A rabbi trust is a special account a company sets up to hold promised future pay for executives, like bonus or retirement money, so those employees can see there are funds earmarked for them. It matters to investors because it signals the company’s commitment to keep key people, but the money is still part of the company’s assets and can be claimed by creditors if the company goes bankrupt—think of it as a labeled jar that isn’t completely off-limits.
non-qualified stock-based deferral plan financial
"Stock Based Deferral Plan, a non-qualified stock-based deferral plan"
performance-based restricted stock financial
"Represents the forfeiture of performance-based restricted stock granted to the reporting person"
Shares granted to employees or executives that are held back and only become actual, tradable stock if the company meets predefined performance targets; until those goals are met the shares cannot be sold. Think of it like a bonus held in escrow that’s released only when specific results are achieved — investors watch these awards because they tie management pay to company outcomes, can dilute existing shareholders when released, and signal how confident or incentivized insiders are to meet growth or profitability goals.
Stock Options (right to buy) financial
"Stock Options (right to buy) granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
2019 Equity Incentive Plan financial
"Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did CLBK CEO Thomas J. Kemly report in this Form 4 filing?
Thomas J. Kemly reported routine changes in Columbia Financial (CLBK) equity awards. He forfeited performance-based restricted stock and received additional phantom stock units through a stock-based deferral plan, while maintaining substantial direct share ownership and stock option positions under the 2019 Equity Incentive Plan.
What stock did the CLBK CEO acquire through the deferral plan?
Kemly acquired 96.5034 phantom stock units at $19.25 each through the Columbia Bank Stock Based Deferral Plan. These units are held in a rabbi trust and will be settled in Columbia Financial common shares when distributions to him occur under the plan’s terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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