Columbia Financial exec adds dividend plan shares
Rhea-AI Filing Summary
Columbia Financial, Inc. (CLBK) reported that executive Lewis Oliver Edward Jr., SEVP & Head Commercial Banking, acquired additional indirect interests in common stock on August 26, 2026 through exempt plan-related awards. These include 46.432 phantom-stock dividend units at $11.62 per share under a stock-based deferral plan and 6 shares at $11.62 through the Savings Income Maintenance Plan, all exempt under Rule 16b-3. The filing also details his direct holding of 65,296 common shares, multiple indirect plan holdings, and several stock option grants under the 2019 Equity Incentive Plan with exercise prices between $7.25 and $8.31 and expirations from 2029 to 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 52.432 shares
Net Buy
15 txns
Insider
Lewis Oliver Edward Jr
Role
SEVP & Head Commercial Banking
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 46.432 | $11.62 | $539.54 |
| Grant/Award | Common Stock F2 | 6 | $11.62 | $69.72 |
| holding | Stock Options (right to buy) F7 | -- | -- | -- |
| 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 F3 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock F4 | -- | -- | -- |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 10,837.1105 shares (Indirect, By Stock-Based Deferral Plan);
Common Stock — 1,503 shares (Indirect, By SIM);
Stock Options (right to buy) — 295,559 shares (Direct);
Common Stock — 65,296 shares (Direct);
Common Stock — 14,562 shares (Indirect, By 401(k));
Common Stock — 16,772 shares (Indirect, By ESOP);
Common Stock — 7,543 shares (Indirect, By SERP);
Common Stock — 23,231 shares (Indirect, By Stock Award IV);
Common Stock — 24,860 shares (Indirect, By Stock Award V);
Common Stock — 25,898 shares (Indirect, By Stock Award VI)
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. Represents dividends which are exempt under Rule 16b-3 in connection with the Columbia Bank Savings Income Maintenance Plan.
- F3. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c).
- 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 units acquired: 46.432 units
Additional SIM Plan shares acquired: 6 shares
Direct Common Stock holding: 65,296 shares
+5 more
8 metrics
Phantom stock dividend units acquired
46.432 units
Stock Based Deferral Plan units at $11.62 on August 26, 2026
Additional SIM Plan shares acquired
6 shares
Common Stock dividends at $11.62 on August 26, 2026
Direct Common Stock holding
65,296 shares
Post-transaction direct ownership
401(k) indirect holding
14,562 shares
Indirect Common Stock by 401(k)
ESOP indirect holding
16,772 shares
Indirect Common Stock by ESOP
Largest option grant underlying shares
125,457 shares
Stock Options at $8.12 expiring March 22, 2031
Lowest option exercise price
$7.25 per share
Options expiring May 1, 2033 over 25,473 underlying shares
Highest option exercise price
$8.31 per share
Options expiring March 2, 2036 over 44,000 underlying shares
Key Terms
phantom stock dividends, Rule 16b-3, 2019 Equity Incentive Plan, Stock-Based Deferral 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"
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.
2019 Equity Incentive Plan financial
"Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
Stock-Based Deferral Plan financial
"in connection with the Columbia Bank Stock Based Deferral Plan"
SERP financial
"Indirect ownership: By SERP"
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.
ESOP financial
"Indirect ownership: By ESOP"
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.
FAQ
What did CLBK executive Lewis Oliver Edward Jr. acquire in this Form 4?
He reported exempt acquisitions of 46.432 phantom-stock dividend units at $11.62 per share under the Columbia Bank Stock Based Deferral Plan and 6 common shares at $11.62 under the Savings Income Maintenance Plan, both treated as Rule 16b-3 exempt dividends.
What indirect CLBK holdings through retirement and benefit plans are disclosed?
Indirect post-transaction holdings include 14,562 shares by 401(k), 16,772 by ESOP, and 7,543 by SERP, along with units and awards under a Stock-Based Deferral Plan and multiple Stock Award programs, all characterized as exempt acquisitions under Rule 16b-3(c).
What stock options on CLBK shares does the insider report holding?
He reports several option grants on CLBK common stock under the 2019 Equity Incentive Plan, including options over 38,823 underlying shares at $7.73, 125,457 at $8.12, 25,473 at $7.25, 18,739 at $7.50, 43,067 at $7.38, and 44,000 at $8.31.
Are the reported Columbia Financial (CLBK) option grants vested?
Options with exercise prices of $7.73, $8.12, and $7.25 are described as fully vested and exercisable. Other grants at $7.50, $7.38, and $8.31 vest in three approximately equal annual installments beginning in 2025, 2026, and 2027, respectively.
What performance-based CLBK stock awards are disclosed in this Form 4?
Indirect holdings include 23,231 shares under Stock Award IV, 24,860 under Stock Award V, and 25,898 under Stock Award VI. These awards were granted under the 2019 Equity Incentive Plan and largely vest upon achievement of specified performance-based vesting criteria over three-year periods.
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