Columbia Financial (CLBK) SEVP adds stock deferral units, updates options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported an acquisition of 34.0099 shares of Common Stock at $20.13 per share through a stock-based deferral plan. Following this grant, his indirect holdings in that plan total 9,146.6935 common stock unit interests.
The filing also lists additional indirect Common Stock holdings through various stock award, SERP, SIM, ESOP, and 401(k) arrangements, and 63,662 Common Stock shares held directly. Klimowich continues to hold multiple stock option awards on Common Stock with exercise prices between $15.60 and $18.28, expiring between 2029 and 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 34.01 | $20.13 | $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 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 9,146.694 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 188,235 shares (Direct, null);
Common Stock — 63,662 shares (Direct, null)
Footnotes (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. 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. 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. 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. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable. 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. 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. 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
Stock award grant: 34.0099 shares at $20.13
Deferral plan units after grant: 9,146.6935 units
Direct Common Stock holdings: 63,662 shares
+5 more
8 metrics
Stock award grant
34.0099 shares at $20.13
Common Stock acquired via stock-based deferral plan
Deferral plan units after grant
9,146.6935 units
Common Stock unit interests under stock-based deferral plan
Direct Common Stock holdings
63,662 shares
Common Stock held directly after reported transactions
Largest option position
188,235 shares at $15.60
Stock options on Common Stock, expiration 2029-07-23
Option position
12,030 shares at $15.94
Stock options on Common Stock, expiration 2033-05-01
Option position
8,850 shares at $16.49
Stock options on Common Stock, expiration 2034-03-06
Option position
20,310 shares at $16.23
Stock options on Common Stock, expiration 2035-03-03
Option position
20,227 shares at $18.28
Stock options on Common Stock, expiration 2036-03-02
Key Terms
phantom stock, rabbi trust, non-qualified stock-based deferral plan, Stock Options (right to buy, +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 maintained in connection with the Columbia Bank Stock Based Deferral Plan"
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 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
"Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan"
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"
performance-based vesting criteria financial
"which vest upon achievement of certain specified performance-based vesting criteria"
FAQ
What did Columbia Financial (CLBK) executive John Klimowich report in this Form 4?
John Klimowich reported an acquisition of 34.0099 shares of Columbia Financial Common Stock at $20.13 per share through a stock-based deferral plan. The filing primarily updates his indirect and direct equity and option holdings, rather than showing any open-market buying or selling activity.
How many Columbia Financial (CLBK) deferral plan units does John Klimowich hold after the transaction?
After the reported acquisition, John Klimowich holds 9,146.6935 Common Stock unit interests under a stock-based deferral plan. These interests relate to phantom stock purchased by a trustee in a rabbi trust, which will be settled in actual shares of stock upon distribution to him.
Does this Columbia Financial (CLBK) Form 4 show any open-market stock purchases or sales?
The Form 4 does not show any open-market purchases or sales of Columbia Financial shares. It records a grant-type acquisition coded as a stock award and multiple entries labeled as holdings, which update indirect and direct positions, including options, rather than discretionary market trades.
What stock options on Columbia Financial (CLBK) does John Klimowich report holding?
Klimowich reports several stock option awards on Columbia Financial Common Stock, including 188,235 underlying shares at an exercise price of $15.60 expiring in 2029, plus additional options at $15.94, $16.49, $16.23, and $18.28 per share with expirations through 2036.
What do the phantom stock and rabbi trust references mean for Columbia Financial (CLBK) holdings?
A footnote explains that phantom stock is purchased on a non-discretionary basis by a trustee in a rabbi trust for a stock-based deferral plan. For Columbia Financial, these stock unit interests will ultimately be settled in actual shares of Common Stock when distributed to John Klimowich.