Columbia Financial (CLBK) Director Reports Stock Deferral Acquisition

Rhea-AI Filing Summary

Lucy Sorrentini, a director of Columbia Financial, Inc. (CLBK), reported transactions on 09/05/2025 related to common stock and stock-based awards. The filing shows an acquisition of 159.1993 phantom stock units under the Columbia Bank Stock Based Deferral Plan at a price of $15.01 per unit; those units will be settled in shares upon distribution and are held indirectly by a rabbi trust. The report also lists 11,664 shares held directly and 3,207 shares held indirectly from stock awards that vest on March 11, 2026. The Form 4 is signed via power of attorney and contains explanatory remarks about the deferral plan and vesting schedule.

Insights

Financial Analyst

TL;DR: Routine insider acquisition via deferral plan; limited immediate market impact.

This Form 4 documents a director-level acquisition of phantom stock units under a non-qualified deferral plan at $15.01 per unit, creating indirect beneficial ownership through a rabbi trust. The reported holdings include direct and indirect shares and time-based stock awards that vest in one year. For investors, this is a governance-level alignment indicator rather than a material operational development; no debt, revenue, or earnings data are disclosed here to change valuation models.

Corporate Governance Expert

TL;DR: Standard disclosure of equity compensation activity by a director; compliance appears appropriate.

The filing clarifies the mechanics of equity deferral and the vesting timetable for stock awards, and it is signed under power of attorney, indicating procedural compliance. The use of a rabbi trust for deferred units is a common practice to deliver stock-based compensation while providing limited security for participants. The transactions are routine and do not indicate governance changes or unusual insider behavior.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sorrentini Lucy

(Last) (First) (Middle)

19-01 ROUTE 208 NORTH

(Street)

FAIR LAWN NJ 07410

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Columbia Financial, Inc. [ CLBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/05/2025		A		159.1993(1)	A	$15.01	7,212.9738	I	By Stock-Based Deferral Plan
Common Stock								11,664	D
Common Stock								3,207	I	By Stock Award V(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

2. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan which vest in one year on March 11, 2026.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	09/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Lucy Sorrentini (CLBK) report on the Form 4 filed 09/09/2025?

The Form 4 reports the acquisition of 159.1993 phantom stock units at $15.01 per unit under a stock-based deferral plan and discloses 11,664 shares held directly and 3,207 shares held indirectly from stock awards.

How will the phantom stock units reported by the CLBK director be settled?

The filing states the phantom stock units are held in a rabbi trust under the Columbia Bank Stock Based Deferral Plan and will be settled in shares of stock upon distribution.

When do the reported stock awards vest for the reporting person?

Stock awards granted under the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in one year on March 11, 2026 as disclosed in the Form 4.

Was the Form 4 filed by a single reporting person or jointly?

The form indicates it was filed by one reporting person (checked box for one reporting person).

Who signed the Form 4 for the reporting person?

The Form 4 is signed by /s/ Dennis E. Gibney, Power of Attorney dated 09/09/2025.