Columbia Financial CRO adds 59 phantom shares
SEVP & Chief Risk Officer John Klimowich received a small phantom stock award under a deferral plan while retaining large vested and unvested stock option positions in CLBK.
Rhea-AI Filing Summary
Columbia Financial, Inc. (CLBK) reported that SEVP & Chief Risk Officer John Klimowich acquired 58.5145 shares of common-stock-equivalent phantom stock on September 4, 2026 at $11.70 per share through the Columbia Bank Stock Based Deferral Plan, held in a rabbi trust and to be settled in shares upon distribution.
After this award, his indirect deferral-plan balance is 20,669.292 shares, alongside substantial vested and unvested stock options with exercise prices between $7.10 and $8.31, and additional direct and indirect common stock holdings in retirement and stock award programs; no Rule 10b5-1 trading plan is reported for this transaction.
Positive
- None.
Negative
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Insider Trade Summary
Grant/Award: 58.5145 shares
Grant/Award
14 txns
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 58.5145 | $11.70 | $684.62 |
| 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 F2 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 20,669.292 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 549,234 contracts (Direct);
Common Stock — 145,056 shares (Direct);
Common Stock — 67,975 shares (Indirect, By 401(k));
Common Stock — 9,309 shares (Indirect, By SIM);
Common Stock — 19,198 shares (Indirect, By ESOP);
Common Stock — 16,852 shares (Indirect, By SERP);
Common Stock — 24,135 shares (Indirect, By Stock Award III);
Common Stock — 25,790 shares (Indirect, By Stock Award IV);
Common Stock — 26,193 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: 58.5145 shares
Grant price per share: $11.70
Deferral plan balance after grant: 20,669.292 shares
+4 more
7 metrics
Phantom stock units acquired
58.5145 shares
Grant on September 4, 2026 under Columbia Bank Stock Based Deferral Plan
Grant price per share
$11.70
Price for phantom stock units acquired on September 4, 2026
Deferral plan balance after grant
20,669.292 shares
Indirect phantom stock units held after September 4, 2026 transaction
Direct common stock holdings
145,056 shares
Common stock held directly by the reporting person as of September 4, 2026
401(k) indirect holdings
67,975 shares
Common stock held indirectly through a 401(k) plan
Largest option position
414,117 underlying shares at $7.10
Stock options expiring July 23, 2029, granted under 2019 Equity Incentive Plan
Additional option positions
26,466; 19,470; 44,682; 44,499 underlying shares
Other stock options with exercise prices from $7.25 to $8.31 expiring 2033–2036
Key Terms
rabbi trust, non-qualified stock-based deferral plan, phantom stock, Stock Options (right to buy), +1 more
5 terms
rabbi trust financial
"purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust"
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
"maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan"
phantom stock financial
"Represents phantom stock purchased, on a non-discretionary basis"
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.
Stock Options (right to buy) financial
"Stock Options (right to buy) ... granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
Equity Incentive Plan financial
"granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
FAQ
What did CLBK executive John Klimowich acquire on September 4, 2026?
He acquired 58.5145 shares of Columbia Financial, Inc. common-stock-equivalent phantom stock at $11.70 per share through the Columbia Bank Stock Based Deferral Plan, with units to be settled in actual shares upon distribution.
How many deferral-plan stock units does the CLBK executive hold after this Form 4 transaction?
Following the September 4, 2026 award, John Klimowich indirectly holds 20,669.292 Columbia Financial common-stock-equivalent units under the stock-based deferral plan maintained through a rabbi trust.
What direct CLBK common stock holdings does John Klimowich report?
He reports 145,056 shares of Columbia Financial common stock held directly as of September 4, 2026, in addition to several categories of indirect holdings in retirement, employee stock ownership, supplemental retirement, and stock award arrangements.
What indirect CLBK common stock holdings are reported through benefit and award plans?
He reports indirect holdings of 67,975 shares through a 401(k), 9,309 shares through SIM, 19,198 through an ESOP, 16,852 through a SERP, and 24,135, 25,790, and 26,193 shares through Stock Award III, IV, and V, respectively.
What stock option positions in CLBK does John Klimowich report in this filing?
He reports stock options on 414,117 underlying shares at $7.10 expiring July 23, 2029; 26,466 at $7.25 expiring May 1, 2033; 19,470 at $7.50 expiring March 6, 2034; 44,682 at $7.38 expiring March 3, 2035; and 44,499 at $8.31 expiring March 2, 2036.
Are the CLBK stock options reported in this Form 4 vested?
According to the footnotes, certain Columbia Financial stock options are fully vested and exercisable, while others vest in three approximately equal annual installments beginning March 6, 2025, March 3, 2026, or March 2, 2027, depending on the specific grant.
Was the CLBK Form 4 transaction made under a Rule 10b5-1 trading plan?
No. The filing indicates that no Rule 10b5-1 trading plan is reported for the September 4, 2026 phantom stock acquisition by John Klimowich.
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