Columbia Financial (CLBK) Form 4 Shows Equity Deferral Purchase and Option Holdings

Rhea-AI Filing Summary

Allyson Katz Schlesinger, SEVP & Head of Consumer Banking at Columbia Financial, Inc. (CLBK), reported a Form 4 disclosing transactions and holdings. The filing shows a 09/05/2025 acquisition entry coded A for Common Stock with a notation "22.2932(1) A $15.01" and lists 13,368.6002 shares "I By Stock-Based Deferral Plan."

The report itemizes additional beneficial ownership across multiple plans and awards: 64,281 shares (direct), and indirect holdings through an ESOP, SERP, SIM and several stock awards. It also lists outstanding stock options exercisable into 155,294, 12,632, 9,292, and 21,289 common shares with stated exercise prices and expiration dates.

Positive

• Acquisition via Stock-Based Deferral Plan reported, showing continued participation in company equity programs
• Substantial equity exposure through direct holdings and multiple long-dated stock options (totaling 198,447 underlying shares listed)

Negative

• No cash-sale transactions disclosed to indicate diversification or monetization of holdings
• Several awards are performance-based and subject to future vesting criteria, so actual share conversion is not guaranteed

Insights

Securities Analyst

TL;DR Insider acquired stock units via a stock-based deferral plan and holds sizable option positions, disclosed on Form 4 dated 09/05/2025.

The filing documents a non‑discretionary purchase of phantom stock units under the companys Stock Based Deferral Plan and reports a mix of direct and indirect beneficial ownership across retirement and incentive plans. Notable is the large pool of vested and unvested stock options totaling 198,447 underlying shares across four option grants, with various exercise prices and multi-year expirations, indicating sustained equity compensation exposure rather than a simple open-market sale or purchase.

Compensation / Governance Specialist

TL;DR The Form 4 reflects routine equity compensation settlement and ongoing incentive awards, not a one-off corporate control event.

The disclosure breaks down holdings by plan type (Stock Based Deferral Plan, ESOP, SERP, SIM) and identifies multiple performance-based and time-based stock awards with staged vesting. Explanatory notes clarify vesting schedules and that certain options are fully vested and exercisable. The filing is consistent with standard executive compensation reporting and provides transparency on how equity is held and will vest or settle.

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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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^*

Schlesinger Allyson Katz

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP&Head of Consumer Banking

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		A		22.2932(1)	A	$15.01	13,368.6002	I	By Stock-Based Deferral Plan
Common Stock								64,281	D
Common Stock								6,683	I	By ESOP
Common Stock								6,459	I	By SERP
Common Stock								4,683	I	By SIM
Common Stock								14,470	I	By Stock Award II(2)
Common Stock								12,672	I	By Stock Award III(3)
Common Stock								12,288	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	155,294		155,294	D
Stock Options (right to buy)	$15.94							05/01/2024(6)	05/01/2033	Common Stock	12,632		12,632	D
Stock Options (right to buy)	$16.49							03/06/2025(7)	03/06/2034	Common Stock	9,292		9,292	D
Stock Options (right to buy)	$16.23							03/03/2026(8)	03/03/2035	Common Stock	21,289		21,289	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	09/09/2025
	** 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).
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FAQ

Who filed the Form 4 for CLBK?

The Form 4 was filed on behalf of Allyson Katz Schlesinger, SEVP & Head of Consumer Banking.

What transaction date is reported on the Form 4 (CLBK)?

The earliest transaction date listed is 09/05/2025.

What was acquired on 09/05/2025 according to the Form 4?

The filing shows an acquisition entry coded A for Common Stock with notation "22.2932(1) A $15.01" and 13,368.6002 shares listed as indirect ownership via the Stock Based Deferral Plan.

How many common shares are reported as directly owned?

The filing reports 64,281 shares held directly.

What derivative (option) positions are disclosed?

Stock options exercisable into 155,294, 12,632, 9,292, and 21,289 common shares with stated exercise prices and expirations are listed.

Are any awards subject to performance vesting?

Yes; several Stock Awards are described as having performance-based vesting criteria and staged vesting schedules.