Columbia Financial director gets 18.491 phantom shares
Rhea-AI Filing Summary
Columbia Financial, Inc. (CLBK) reported that director and officer Dennis E. Gibney received an exempt award of 18.4910 shares of Common Stock on August 26, 2026 at a reference value of $11.62 per share, recorded as phantom stock dividends under the Columbia Bank Stock Based Deferral Plan. Following this, he holds 4,315.8050 indirect shares in that deferral plan and 376,592 direct Common shares, plus additional indirect holdings through retirement plans and awards. He also holds multiple stock option grants under the 2019 Equity Incentive Plan with exercise prices between $7.10 and $8.31 per share and expirations from 2029 to 2036, all reported as holdings rather than new option transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 18.491 shares
Grant/Award
16 txns
Insider
Gibney Dennis E.
Role
1st Sr. EVP, CBO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 18.491 | $11.62 | $214.87 |
| 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 F2 | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F3, F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,315.805 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 745,895 contracts (Direct);
Common Stock — 376,592 shares (Direct);
Common Stock — 11,549 shares (Indirect, By 401(k));
Common Stock — 19,198 shares (Indirect, By ESOP);
Common Stock — 25,194 shares (Indirect, By SERP);
Common Stock — 6,600 shares (Indirect, By IRA);
Common Stock — 22,000 shares (Indirect, By Spouse);
Common Stock — 34,500 shares (Indirect, By SEP-IRA);
Common Stock — 26,881 shares (Indirect, By Stock Award III);
Common Stock — 28,899 shares (Indirect, By Stock Award IV);
Common Stock — 68,668 shares (Indirect, By Stock Award V)
Footnotes (10)
- F1. Represents phantom stock dividends which are exempt under Rule 16b-3 in connection with the Columbia Bank Stock Based Deferral Plan.
- F2. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c).
- 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 dividend acquisition: 18.4910 shares of Common Stock at $11.6200 per share
Indirect deferral plan holdings: 4315.8050 shares of Common Stock
Direct Common Stock holdings: 376592.0000 shares of Common Stock
+5 more
8 metrics
Phantom stock dividend acquisition
18.4910 shares of Common Stock at $11.6200 per share
Exempt grant/award on 2026-08-26 under Stock Based Deferral Plan
Indirect deferral plan holdings
4315.8050 shares of Common Stock
Indirect ownership by Stock-Based Deferral Plan after 2026-08-26
Direct Common Stock holdings
376592.0000 shares of Common Stock
Direct ownership after 2026-08-26
401(k) indirect holdings
11549.0000 shares of Common Stock
Indirect ownership by 401(k) plan
ESOP indirect holdings
19198.0000 shares of Common Stock
Indirect ownership by ESOP
Largest stock option position
528000.0000 underlying shares at $7.1000 exercise price
Stock Options (right to buy) expiring 2029-07-23, direct ownership
Additional stock options
116672.0000 underlying shares at $8.3100 exercise price
Stock Options (right to buy) expiring 2036-03-02, direct ownership
Stock Award V holdings
68668.0000 shares of Common Stock
Indirect ownership by Stock Award V vehicle
Key Terms
phantom stock dividends, Rule 16b-3, Stock Options (right to buy), Equity Incentive Plan, +2 more
6 terms
phantom stock dividends financial
"Represents phantom stock dividends which are exempt under Rule 16b-3"
Rule 16b-3 regulatory
"exempt under Rule 16b-3 in connection with the Columbia Bank Stock Based"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
Stock Options (right to buy) financial
"Stock Options (right to buy) granted pursuant to the Columbia Financial,"
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.
ESOP financial
"Indirect ownership By ESOP reported as Common Stock holdings"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
SERP financial
"Indirect ownership By SERP reported as Common Stock holdings"
A Supplemental Executive Retirement Plan (SERP) is a company-funded benefit that promises extra retirement pay to selected senior executives beyond regular pension or savings plans. Think of it as a bespoke top-up savings account the employer guarantees for key leaders; it matters to investors because SERPs create future financial obligations, influence executive retention and pay incentives, and can signal how a company prioritizes management costs versus shareholder returns.
FAQ
What insider transaction did Dennis E. Gibney report in this CLBK Form 4?
Dennis E. Gibney reported an exempt acquisition of 18.4910 shares of Common Stock on August 26, 2026 at a reference value of $11.62 per share, representing phantom stock dividends under a stock-based deferral plan.
What CLBK stock options does Dennis E. Gibney have outstanding?
He reports stock options on CLBK Common Stock with exercise prices of $7.10, $7.25, $7.50, $7.38, and $8.31 per share, covering underlying shares of 528,000, 29,475, 21,683, 50,065, and 116,672, expiring between 2029 and 2036.
Were the CLBK insider acquisitions by Dennis E. Gibney under Rule 16b-3?
Yes. The filing states that the phantom stock dividends and plan-related increases in beneficial ownership are exempt acquisitions under Rule 16b-3, including acquisitions pursuant to Rule 16b-3(c).
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