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

Rhea-AI Filing Summary

Kemly Thomas J., President & CEO and a director of Columbia Financial, Inc. (CLBK), reported transactions on 08/22/2025. The filing shows an acquisition coded A of 116.4254 units at a price of $15.35 under the Columbia Bank Stock Based Deferral Plan, which will be settled in shares on distribution. The report lists multiple categories of beneficial ownership including units held in a 401(k), ESOP, SERP, SIM, spouse, and several stock awards, totaling indictive owned amounts by category (for example 233,808 shares disposed, and indirect holdings such as 65,436.603 shares by the Stock-Based Deferral Plan). The filer also discloses outstanding stock options at various strike prices ($15.60, $15.94, $16.49, $16.23) with exercise/expiration schedules and sizeable option quantities (for example 656,471 options exercisable at $15.60).

Positive

• CEO acquisition reported: 116.4254 units purchased at $15.35 under the Stock Based Deferral Plan, indicating continued managerial equity participation
• Detailed disclosure of incentive structure: Multiple stock awards and options with specified vesting schedules and exercise prices enhance transparency about executive compensation

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO reported a small purchase via a deferral plan and discloses substantial outstanding option positions.

The Form 4 shows an acquisition on 08/22/2025 of 116.4254 units at $15.35 under a non-qualified stock-based deferral plan that will be settled in shares. The filing details multiple indirect holdings across retirement and compensation vehicles and large option grants/exercises outstanding with strikes between $15.60 and $16.49 and multi-year vesting/expiration schedules. These disclosures clarify managerial equity exposure and option dilution potential but do not provide company-level financial metrics.

Corporate Governance Expert

TL;DR: The report documents standard executive compensation settlement and long-dated option grants tied to multi-year vesting and performance criteria.

The filing includes explanations that certain stock awards vest based on time and performance conditions and that phantom units in a rabbi trust will convert to shares upon distribution. Several option grants vest in staggered installments with expirations through 2035, indicating long-term incentive alignment. The disclosure is thorough on award mechanics but contains no new operational or financial developments.

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
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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).

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^*

Kemly Thomas J.

(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
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		A		116.4254(1)	A	$15.35	65,436.603	I	By Stock-Based Deferral Plan
Common Stock								233,808	D
Common Stock								40,946	I	By 401(k)
Common Stock								7,620	I	By ESOP
Common Stock								32,597	I	By SERP
Common Stock								41,572	I	By SIM
Common Stock								5,933	I	By Spouse
Common Stock								43,411	I	By Stock Award II(2)
Common Stock								50,686	I	By Stock Award III(3)
Common Stock								54,690	I	By Stock Award IV(4)

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(5)	07/23/2029	Common Stock	656,471		656,471	D
Stock Options (right to buy)	$15.94							05/01/2024(6)	05/01/2033	Common Stock	37,894		37,894	D
Stock Options (right to buy)	$16.49							03/06/2025(7)	03/06/2034	Common Stock	37,168		37,168	D
Stock Options (right to buy)	$16.23							03/03/2026(8)	03/03/2035	Common Stock	94,749		94,749	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, 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.

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 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.

4. 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.

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

6. 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.

7. 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.

8. 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.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	08/26/2025
	** 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 CLBK insider Kemly Thomas J. acquire on 08/22/2025?

The filing reports an acquisition of 116.4254 units at $15.35 under the Columbia Bank Stock Based Deferral Plan, which will be settled in shares on distribution.

How many stock options does the CLBK reporting person hold and at what strikes?

The report discloses several option grants including 656,471 options at a $15.60 strike, 37,894 at $15.94, 37,168 at $16.49, and 94,749 at $16.23.

Are any stock awards subject to performance-based vesting in the CLBK Form 4?

Yes. The filing states certain stock awards vest upon achievement of specified performance-based criteria and, if achieved, would vest three years after the award date.

Does the Form 4 indicate indirect holdings for the reporting person at CLBK?

Yes. The filing lists indirect beneficial ownership categories including a Stock-Based Deferral Plan, 401(k), ESOP, SERP, SIM, spouse, and multiple stock award categories with amounts shown.

When do the disclosed stock options expire?

The disclosed option expirations extend out to at least 2035, with specific examples including expirations in 2029, 2033, 2034, and 2035 depending on the grant.