[Form 4] Columbia Financial, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 11 July 2025, Columbia Financial, Inc. (ticker CLBK) director Elizabeth E. Randall filed a Form 4 reporting a modest increase in her indirect ownership.

• Transaction: 166.4981 common shares were automatically purchased through the company’s Stock-Based Deferral Plan at $14.82 per share.
• Post-transaction holdings: 9,174.0827 shares in the Deferral Plan. Including prior positions, the director now controls roughly 103,266 shares spread across direct (39,934), IRA (44,447), Roth IRA (6,704) and unvested stock-award (3,207) accounts.
• Derivative position: 62,474 fully-vested stock options with a $15.60 strike price expiring 23 July 2029 remain unchanged.

No shares were sold in the reporting period, resulting in a net purchase that marginally increases insider exposure to CLBK equity. The filing was signed on 15 July 2025 by attorney-in-fact Dennis E. Gibney.

Insights

Securities Analyst

TL;DR: Small automatic insider buy shows continued alignment but is too small to move valuation; overall neutral impact.

The acquisition of 166.5 shares (≈$2,465) is immaterial relative to Columbia Financial’s market capitalization and the director’s pre-existing 100k+ share stake. That said, the absence of sales and continued accumulation through a long-term deferral plan signal confidence in the bank’s prospects and align the board member’s incentives with shareholders. The 62.5k in-the-money options at $15.60 (6% above the transaction price) provide additional upside leverage but are unchanged from prior filings. Because the dollar value and percentage change in ownership are minimal, I classify the filing as informational rather than market-moving.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

Randall Elizabeth E.

(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)
07/11/2025

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	07/11/2025		A		166.4981(1)	A	$14.82	9,174.0827	I	By Stock-Based Deferral Plan
Common Stock								39,934	D
Common Stock								44,447	I	By IRA
Common Stock								6,704	I	By Roth IRA
Common Stock								3,207	I	By Stock Award IV(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
Stock Options (right to buy)	$15.6							07/23/2020(3)	07/23/2029	Common Stock	62,474		62,474	D

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.

3. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	07/15/2025
	** 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

How many shares did CLBK director Elizabeth Randall buy on 11 July 2025?

She acquired 166.4981 common shares at $14.82 each through the Stock-Based Deferral Plan.

What is Elizabeth Randall’s total Columbia Financial shareholding after the transaction?

Her aggregate ownership is roughly 103,266 shares across various accounts and plans.

Does the Form 4 show any CLBK shares sold by the director?

No. The filing reports only an acquisition; no disposals were recorded.

What stock options does the director hold according to the filing?

Randall has 62,474 fully-vested options with a $15.60 strike price expiring on 23 July 2029.

Is the reported insider transaction considered material to CLBK investors?

Given its small dollar value (≈$2,465), the transaction is generally viewed as informational rather than material.