Columbia Financial (CLBK) CEO adds phantom stock and details large option holdings
Rhea-AI Filing Summary
Columbia Financial, Inc. President & CEO Thomas J. Kemly reported an award of 171.3736 units of Common Stock on August 7, 2026, at $10.84 per unit, credited as phantom stock under the Columbia Bank Stock Based Deferral Plan. This indirect position, held through a rabbi trust, increased his stock-based deferral plan balance to 153,658.8392 units. He also reports direct ownership of 588,391 shares of Common Stock and multiple indirect holdings through a 401(k), SERP, ESOP, spouse, and performance-based stock award vehicles, plus several option grants over Columbia Financial’s stock with exercise prices between $7.10 and $8.31 and expirations from 2029 to 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 171.3736 shares
Net Buy
15 txns
Insider
Kemly Thomas J.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 171.3736 | $10.84 | $2K |
| holding | Stock Options (right to buy) F7 | -- | -- | -- |
| holding | Stock Options (right to buy) F7 | -- | -- | -- |
| holding | Stock Options (right to buy) F8 | -- | -- | -- |
| holding | Stock Options (right to buy) F9 | -- | -- | -- |
| holding | Stock Options (right to buy) F10 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F3, F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 153,658.8392 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 2,019,067 shares (Direct);
Common Stock — 588,391 shares (Direct);
Common Stock — 103,138 shares (Indirect, By 401(k));
Common Stock — 77,679 shares (Indirect, By SERP);
Common Stock — 91,458 shares (Indirect, By SIM);
Common Stock — 19,117 shares (Indirect, By ESOP);
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 (10)
- 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. This form accounts for an increase of 2 shares from the prior report due to the rounding of fractional shares.
- F3. This form accounts for a decrease of 1 share from the prior report due to the rounding of fractional shares.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F8. 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.
- F9. 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.
- F10. 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 awarded: 171.3736 units
Award price per unit: $10.8400 per unit
Deferral plan balance after award: 153,658.8392 units
+5 more
8 metrics
Phantom stock units awarded
171.3736 units
Common Stock credited under Columbia Bank Stock Based Deferral Plan on August 7, 2026
Award price per unit
$10.8400 per unit
Price used for phantom stock acquisition under deferral plan
Deferral plan balance after award
153,658.8392 units
Stock-based deferral plan units held indirectly after the August 7, 2026 award
Direct Common Stock holdings
588,391.0000 shares
Common Stock held directly by Thomas J. Kemly
401(k) Common Stock holdings
103,138.0000 shares
Common Stock held indirectly through 401(k)
ESOP Common Stock holdings
19,117.0000 shares
Common Stock held indirectly through ESOP
Options exercise price and size
$7.1000 on 1,444,236.0000 underlying shares
Stock Options (right to buy) expiring July 23, 2029, fully vested and exercisable
Highest option exercise price reported
$8.3100 on 201,249.0000 underlying shares
Stock Options (right to buy) expiring March 2, 2036
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"
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
"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.
non-qualified stock-based deferral plan financial
"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"
performance-based vesting criteria financial
"vest upon achievement of certain specified performance-based vesting criteria"
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 insider transaction did CLBK CEO Thomas J. Kemly report on August 7, 2026?
Thomas J. Kemly reported an award of 171.3736 units of Common Stock credited as phantom stock at $10.84 per unit under the Columbia Bank Stock Based Deferral Plan, increasing his deferral-plan stock balance to 153,658.8392 units held indirectly through a rabbi trust.
How are the new CLBK phantom stock units for CEO Kemly held and eventually settled?
The 171.3736 units are phantom stock purchased on a non-discretionary basis by a trustee of the Bank’s rabbi trust, under a non-qualified stock-based deferral plan. These stock unit interests will be settled in shares of Columbia Financial stock upon distribution to Kemly.
What are Thomas J. Kemly’s reported direct Common Stock holdings in CLBK?
Thomas J. Kemly reports 588,391 shares of Common Stock held directly. In addition, he reports several indirect holdings, including 103,138 shares via a 401(k), and further shares via a SERP, ESOP, spouse accounts, and performance-based stock award vehicles.
What stock option positions in CLBK does CEO Kemly report in this filing?
Kemly reports several Stock Options (right to buy) Columbia Financial Common Stock, including grants with exercise prices of $7.10 on 1,444,236 underlying shares and $7.25 on 83,366 underlying shares, with expirations between 2029 and 2036, under the 2019 Equity Incentive Plan.
Are Kemly’s Columbia Financial stock options vested according to this Form 4?
Some options are fully vested and exercisable, including grants under the 2019 Equity Incentive Plan noted in footnote F7. Others vest in three approximately equal annual installments beginning on dates such as March 6, 2025, March 3, 2026, and March 2, 2027, per footnotes F8–F10.
Does the reported CLBK insider transaction involve an open-market buy or a compensation award?
The transaction is coded A for a grant, award, or other acquisition, and footnote F1 describes it as phantom stock purchased under a stock-based deferral plan, rather than an open-market purchase; it is a compensation-related stock-based award credited to Kemly’s deferral account.
AI-generated analysis. How Rhea-AI works. Not financial advice.
