Columbia Banking (NASDAQ: COLB) director receives deferred phantom stock award

Rhea-AI Filing Summary

Columbia Banking System director Luis Machuca reported a compensation-related award of deferred compensation phantom stock. On this Form 4, Machuca acquired 659 units of Deferred Compensation Phantom Stock tied to Columbia Banking System common stock at a reference price of $26.83 per unit.

The units were credited under the company’s deferred compensation plan and are held as an indirect interest classified as deferred compensation. Following this award, Machuca’s deferred compensation phantom stock balance is 48,403 units. According to the plan terms, these amounts will be paid after his employment with the company ends.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MACHUCA LUIS

(Last) (First) (Middle)

C/O COLUMBIA BANKING SYSTEM, INC.

1301 A STREET

(Street)

TACOMA WA 98402

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COLUMBIA BANKING SYSTEM, INC. [ COLB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Compensation Phantom Stock	(1)	03/16/2026		A		659		(1)	(1)	Common	659	$26.83	48,403	I	Deferred Compensation

Explanation of Responses:

1. The deferred compensation plan phantom stock was accrued under the Registrant's deferred compensation plan and will be paid in accordance with the terms of the deferred compensation plan following the end of the reporting person's employment with the Registrant.

Remarks:

	/s/ Andrea M. Newburn, Attorney-in-fact	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did COLB director Luis Machuca report on this Form 4?

Director Luis Machuca reported receiving 659 units of Deferred Compensation Phantom Stock. This is a compensation-related award under Columbia Banking System’s deferred compensation plan, not an open-market stock purchase or sale, and increases his deferred phantom stock balance to 48,403 units.

Is the COLB Form 4 for Luis Machuca a stock buy or sell in the market?

No, the Form 4 shows a grant of 659 phantom stock units, not a market trade. These units are part of a deferred compensation arrangement and track Columbia Banking System’s common stock value rather than representing directly traded shares.

How many deferred compensation phantom stock units does Luis Machuca hold after this COLB award?

After the reported award of 659 phantom stock units, Luis Machuca holds 48,403 deferred compensation phantom stock units. These units are credited under Columbia Banking System’s deferred compensation plan and will be paid according to the plan’s terms after his employment ends.

What are deferred compensation phantom stock units in the COLB filing?

Deferred compensation phantom stock units are bookkeeping entries that mirror the value of Columbia Banking System common stock. For Luis Machuca, 659 new units were credited under the company’s deferred compensation plan and will be settled in the future, following the end of his employment.

When will Luis Machuca receive payment for his COLB deferred compensation phantom stock?

Payment for Luis Machuca’s deferred compensation phantom stock will occur after his employment ends. The filing notes that the phantom stock was accrued under Columbia Banking System’s deferred compensation plan and will be paid in accordance with that plan’s terms at employment termination.