Columbia Financial (NASDAQ: CLBK) SEVP gets stock deferral grant
Rhea-AI Filing Summary
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, acquired 38.5701 phantom stock units of Common Stock on April 6, 2026 at $17.75 per unit through the Columbia Bank Stock Based Deferral Plan. These stock unit interests will be settled in shares upon distribution to him, bringing his balance in this stock-based deferral arrangement to 9,005.2489 units held indirectly.
The filing also lists his existing equity exposure, including directly held Common Stock and several grants of fully vested and time- or performance-vested Stock Options under the 2019 Equity Incentive Plan, such as options over 188,235 underlying shares at an exercise price of $15.60 expiring on July 23, 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 38.5701 shares
Net Buy
15 txns
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 38.5701 | $17.75 | $684.62 |
| 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 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 9,005.2489 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 249,652 shares (Direct);
Common Stock — 61,464 shares (Direct);
Common Stock — 17,130 shares (Indirect, By 401(k));
Common Stock — 8,689 shares (Indirect, By ESOP);
Common Stock — 7,627 shares (Indirect, By SERP);
Common Stock — 4,214 shares (Indirect, By SIM);
Common Stock — 13,781 shares (Indirect, By Stock Award II);
Common Stock — 10,971 shares (Indirect, By Stock Award III);
Common Stock — 11,723 shares (Indirect, By Stock Award IV);
Common Stock — 11,906 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. 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 May 1, 2024; 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.
- F3. 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.
- F4. 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.
- 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 2, 2029.
- F6. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F7. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on May 1, 2024.
- 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
Phantom stock units granted: 38.5701 units
Grant price per unit: $17.75 per unit
Deferral plan units after grant: 9,005.2489 units
+4 more
7 metrics
Phantom stock units granted
38.5701 units
Grant under Columbia Bank Stock Based Deferral Plan at $17.75 on April 6, 2026
Grant price per unit
$17.75 per unit
Price for April 6, 2026 phantom stock grant to John Klimowich
Deferral plan units after grant
9,005.2489 units
Total phantom stock units indirectly held after the reported transaction
Largest option position
188,235 underlying shares
Stock Options at $15.60 exercise price, expiring July 23, 2029, held directly
Additional option grant
12,030 underlying shares
Stock Options at $15.94 exercise price, expiring May 1, 2033, held directly
Direct common stock holding
61,464 shares
Common Stock held directly as of April 6, 2026
401(k) common stock
17,130 shares
Common Stock held indirectly via 401(k) as of April 6, 2026
Key Terms
phantom stock, rabbi trust, non-qualified stock-based deferral plan, performance-based vesting criteria, +2 more
6 terms
phantom stock financial
"Represents phantom stock purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust..."
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
"purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust maintained in connection..."
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
"maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan."
performance-based vesting criteria financial
"the remaining 75% of which vest upon achievement of certain specified performance-based vesting criteria..."
Stock Options (right to buy) financial
"Stock Options (right to buy) ... underlying security title "Common Stock"..."
Equity Incentive Plan financial
"Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan..."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Columbia Financial (CLBK) report in John Klimowich’s latest Form 4?
John Klimowich received 38.5701 phantom stock units of Columbia Financial Common Stock at $17.75 per unit under a stock-based deferral plan. These units are part of his compensation and will be settled in actual shares when distributed to him in the future.
Is the Form 4 for Columbia Financial (CLBK) an insider buy or a compensation award?
The Form 4 reflects a grant/award acquisition, not an open-market stock purchase. Klimowich received 38.5701 phantom stock units through the Columbia Bank Stock Based Deferral Plan, a non-qualified deferred compensation arrangement rather than a discretionary market transaction.
How many phantom stock units does John Klimowich hold after this CLBK transaction?
After the April 6, 2026 grant, Klimowich holds 9,005.2489 phantom stock units indirectly in the Columbia Bank Stock Based Deferral Plan. These stock unit interests are designed to be settled in Columbia Financial shares when they are ultimately distributed to him.
What stock options for Columbia Financial (CLBK) does John Klimowich currently hold?
Klimowich holds several Stock Options (rights to buy Common Stock) under the 2019 Equity Incentive Plan, including options over 188,235 underlying shares at $15.60 per share expiring on July 23, 2029, plus additional option grants with later expiration dates and higher exercise prices.
How are Columbia Financial (CLBK) deferral plan units in the Form 4 ultimately settled?
The phantom stock units shown in the filing are held in a rabbi trust for the Columbia Bank Stock Based Deferral Plan. According to the disclosure, these stock unit interests will be settled in shares of Columbia Financial stock upon distribution to Klimowich under the plan’s terms.
What vesting conditions apply to Columbia Financial (CLBK) equity awards mentioned in the filing?
Several Stock Awards and Stock Options were granted under the 2019 Equity Incentive Plan. Some vest in three approximately equal annual installments starting on specific dates, while others vest only upon achieving specified performance-based vesting criteria over three-year periods following the award dates.