Columbia Financial (CLBK) risk chief adds stock-based deferral units

Rhea-AI Filing Summary

Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported a compensation-related acquisition of 39.7804 shares of Common Stock at $17.2100 per share on March 20, 2026. The shares are phantom stock credited under the Columbia Bank Stock Based Deferral Plan and will be settled in stock upon distribution.

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^*

Klimowich John

(Last) (First) (Middle)

19-01 ROUTE 208 NORTH

(Street)

FAIR LAWN NEW JERSEY 07410

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP & Chief Risk Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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	03/20/2026		A		39.7804(1)	A	$17.21	8,966.6788	I	By Stock-Based Deferral Plan
Common Stock								61,464	D
Common Stock								17,130	I	By 401(k)
Common Stock								8,689(2)	I	By ESOP
Common Stock								7,627(2)	I	By SERP
Common Stock								4,214	I	By SIM
Common Stock								13,781	I	By Stock Award II(3)
Common Stock								10,971	I	By Stock Award III(4)
Common Stock								11,723	I	By Stock Award IV(5)
Common Stock								11,906	I	By Stock Award V(6)

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(7)	07/23/2029	Common Stock	188,235		188,235	D
Stock Options (right to buy)	$15.94							05/01/2024(8)	05/01/2033	Common Stock	12,030		12,030	D
Stock Options (right to buy)	$16.49							03/06/2025(9)	03/06/2034	Common Stock	8,850		8,850	D
Stock Options (right to buy)	$16.23							03/03/2026(10)	03/03/2035	Common Stock	20,310		20,310	D
Stock Options (right to buy)	$18.28							03/02/2027(11)	03/02/2036	Common Stock	20,227		20,227	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. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c).

3. 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.

4. 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.

5. 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.

6. 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.

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

8. 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.

9. 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.

10. 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.

11. 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.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Columbia Financial (CLBK) report for John Klimowich?

Columbia Financial reported that SEVP & Chief Risk Officer John Klimowich acquired 39.7804 phantom shares of Common Stock at $17.2100 per share. These units were credited under a stock-based deferral plan as a compensation-related award, not as an open-market purchase.

How were the new Columbia Financial (CLBK) shares for John Klimowich structured?

The 39.7804 units represent phantom stock purchased on a non-discretionary basis by a rabbi trust for a stock-based deferral plan. They track Columbia Financial’s Common Stock and will be settled in actual shares when amounts are distributed to Klimowich under the plan.

Is the Columbia Financial (CLBK) Form 4 transaction an open-market buy or a grant?

The Form 4 describes a grant or award acquisition, coded “A,” rather than an open-market purchase. The additional 39.7804 phantom shares were credited under Columbia Bank’s Stock Based Deferral Plan as exempt acquisitions pursuant to Rule 16b-3(c), reflecting compensation, not trading activity.

What does the stock-based deferral plan at Columbia Financial (CLBK) do for executives?

The Columbia Bank Stock Based Deferral Plan allows executives to hold phantom stock units that mirror Common Stock performance. According to the filing, these stock unit interests are settled in shares of stock upon distribution, deferring compensation while keeping value linked to Columbia Financial’s share price.

What other equity positions for John Klimowich are noted in the Columbia Financial (CLBK) filing?

The Form 4 lists multiple stock option grants under the 2019 Equity Incentive Plan with exercise prices between $15.6000 and $18.2800 and expirations from 2029 to 2036. It also references various time- and performance-based stock awards that vest over multi-year periods if criteria are achieved.