Columbia Financial CEO adds phantom stock units
Columbia Financial’s CEO received a small phantom stock award into a deferral plan while maintaining large existing stock and option positions.
Rhea-AI Filing Summary
Columbia Financial, Inc. (CLBK) reported that President and CEO Thomas J. Kemly acquired additional common stock-equivalent interests on September 18, 2026 through a stock-based deferral arrangement. He received 160.4222 units of phantom stock, valued at $11.58 per unit, credited on a non‑discretionary basis to a rabbi trust under the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan. Following this award, his interest in that deferral plan totals 154,796.7866 stock units, which will be settled in shares of common stock upon distribution. The filing also lists substantial existing direct and indirect holdings of Columbia Financial common stock and several series of stock options granted under the 2019 Equity Incentive Plan, with exercise prices between $7.10 and $8.31 and expirations from 2029 to 2036. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 160.4222 shares
Grant/Award
15 txns
Insider
Kemly Thomas J.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 160.4222 | $11.58 | $2K |
| holding | Stock Options (right to buy) F5 | -- | -- | -- |
| holding | Stock Options (right to buy) F5 | -- | -- | -- |
| holding | Stock Options (right to buy) F6 | -- | -- | -- |
| holding | Stock Options (right to buy) F7 | -- | -- | -- |
| holding | Stock Options (right to buy) F8 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 154,796.7866 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 2,019,067 contracts (Direct);
Common Stock — 588,391 shares (Direct);
Common Stock — 103,581 shares (Indirect, By 401(k));
Common Stock — 91,850 shares (Indirect, By SIM);
Common Stock — 19,198 shares (Indirect, By ESOP);
Common Stock — 78,014 shares (Indirect, By SERP);
Common Stock — 13,052 shares (Indirect, By Spouse);
Common Stock — 101,371 shares (Indirect, By Stock Award III);
Common Stock — 120,318 shares (Indirect, By Stock Award IV);
Common Stock — 118,452 shares (Indirect, By Stock Award V)
Footnotes (8)
- 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 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.
- F3. 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.
- 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 2, 2029.
- F5. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F6. 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.
- F7. 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.
- F8. 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 acquired: 160.4222 units
Phantom stock credit price: $11.58 per unit
Deferral plan stock units after transaction: 154,796.7866 units
+5 more
8 metrics
Phantom stock units acquired
160.4222 units
Credited to the Columbia Bank Stock Based Deferral Plan on September 18, 2026
Phantom stock credit price
$11.58 per unit
Value used for the September 18, 2026 phantom stock purchase
Deferral plan stock units after transaction
154,796.7866 units
Total stock unit interests in the stock-based deferral plan after the award
Direct common stock holding
588,391 shares
Columbia Financial, Inc. common stock held directly by Thomas J. Kemly
Common stock in 401(k)
103,581 shares
Indirect Columbia Financial, Inc. common stock held through a 401(k) plan
Largest option grant underlying shares
1,444,236 shares
Common shares underlying options exercisable at $7.10, expiring July 23, 2029
Option exercise price range
$7.10–$8.31
Exercise prices for reported stock options under the 2019 Equity Incentive Plan
Latest option expiration
March 2, 2036
Expiration date of the option series with a $8.31 exercise price
Key Terms
phantom stock, non-qualified stock-based deferral plan, rabbi trust, 2019 Equity Incentive Plan, +1 more
5 terms
phantom stock financial
"Represents phantom stock purchased, on a non-discretionary basis, by the trustee"
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.
non-qualified stock-based deferral plan financial
"Stock Based Deferral Plan, a non-qualified stock-based deferral plan."
rabbi trust financial
"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.
2019 Equity Incentive Plan financial
"Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
performance-based vesting criteria financial
"vest upon achievement of certain specified performance-based vesting criteria"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transaction did CLBK CEO Thomas J. Kemly report on September 18, 2026?
He reported an acquisition of 160.4222 phantom stock units tied to Columbia Financial, Inc. common stock, credited at $11.58 per unit into a stock-based deferral plan maintained through a rabbi trust.
How are the new CLBK phantom stock units for Thomas J. Kemly held and settled?
The units are held in a rabbi trust under the Columbia Bank Stock Based Deferral Plan. The filing states that these stock unit interests will be settled in shares of stock when they are distributed to Thomas J. Kemly.
How many CLBK deferral-plan stock units does Thomas J. Kemly hold after this award?
After the September 18, 2026 credit, Thomas J. Kemly has 154,796.7866 stock unit interests in the Columbia Bank Stock Based Deferral Plan, all of which are scheduled to be settled in Columbia Financial, Inc. common stock upon distribution.
What direct CLBK common stock holdings are reported for Thomas J. Kemly?
The report shows 588,391 shares of Columbia Financial, Inc. common stock held directly by Thomas J. Kemly as of September 18, 2026, in addition to various indirect holdings through benefit plans and related accounts.
What stock options linked to CLBK does Thomas J. Kemly have outstanding?
He holds several series of stock options on Columbia Financial, Inc. common stock under the 2019 Equity Incentive Plan, including options over 1,444,236 shares at $7.10 expiring July 23, 2029 and smaller tranches at exercise prices from $7.25 to $8.31 expiring between 2033 and 2036.
Was the reported CLBK transaction under a Rule 10b5-1 trading plan?
No. The filing indicates no Rule 10b5-1 trading plan for the reported acquisition; it reflects a non‑discretionary purchase of phantom stock by the trustee of the bank’s rabbi trust under the deferral plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
