Columbia director granted deferred phantom stock units

MACHUCA LUIS reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

MACHUCA LUIS reported acquisition or exercise transactions in this Form 4 filing.

Columbia Banking System director Luis Machuca received a compensation-related award of 563 units of Deferred Compensation Phantom Stock tied to Columbia common stock. The award was valued at $31.78 per unit on the grant date and is held as an indirect deferred compensation position.

Following this grant, Machuca’s deferred compensation account reflects a total of 48,966 phantom stock units. According to the company’s deferred compensation plan, these phantom stock units will be settled after he ceases serving as a director, in line with the plan’s terms, rather than through current market trading.

Insider Trade Summary

Grant/Award: 563 shares

Grant/Award 1 txn

Insider MACHUCA LUIS

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Compensation Phantom Stock	563	$31.78	$18K

Holdings After Transaction: Deferred Compensation Phantom Stock — 48,966 contracts (Indirect, Deferred Compensation)

Footnotes (1)

1. F1. The deferred compensation plan phantom stock was accrued under the Registrant's deferred compensation plan and will be settled in accordance with the terms of the deferred compensation plan following the reporting person's cessation of service as a director of the Registrant.

Key Figures

Phantom stock units granted: 563 units Grant valuation per unit: $31.78 per unit Total phantom units after grant: 48,966 units +1 more

4 metrics

Phantom stock units granted 563 units Deferred Compensation Phantom Stock grant on 2026-06-15

Grant valuation per unit $31.78 per unit Phantom stock reference price on grant date

Total phantom units after grant 48,966 units Deferred Compensation Phantom Stock holdings following transaction

Conversion/exercise price $0.00 Listed conversion or exercise price for phantom stock units

Key Terms

Deferred Compensation Phantom Stock, deferred compensation plan, phantom stock

3 terms

Deferred Compensation Phantom Stock financial

"The deferred compensation plan phantom stock was accrued under the Registrant's deferred compensation plan"

deferred compensation plan financial

"was accrued under the Registrant's deferred compensation plan and will be settled in accordance with the terms"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

phantom stock financial

"The deferred compensation plan phantom stock was accrued under the Registrant's deferred compensation plan"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Columbia Banking System (COLB) report for Luis Machuca?

Columbia Banking System reported that director Luis Machuca received 563 units of Deferred Compensation Phantom Stock. This is a grant under the company’s deferred compensation plan, not an open-market trade, and increases his total deferred phantom units to 48,966.

Is the Luis Machuca Form 4 for COLB a stock purchase or sale?

The Form 4 reflects a grant of 563 Deferred Compensation Phantom Stock units to Luis Machuca, classified as a grant or award acquisition. It is part of his compensation package, not a market purchase or sale of Columbia Banking System common shares.

How many Deferred Compensation Phantom Stock units does Luis Machuca hold after this COLB filing?

After the reported grant, Luis Machuca holds 48,966 Deferred Compensation Phantom Stock units tied to Columbia Banking System common stock. These units remain in his deferred compensation account and are scheduled to be settled after his board service ends, under plan terms.

What is Deferred Compensation Phantom Stock in the Columbia Banking System plan?

Deferred Compensation Phantom Stock represents bookkeeping units linked to Columbia’s common stock value within a deferred compensation plan. Directors accrue these units instead of immediate cash, with settlement occurring later, typically after service ends, as outlined by the plan’s governing terms and conditions.

When will Luis Machuca’s COLB phantom stock award be settled?

The phantom stock units will be settled after Luis Machuca’s cessation of service as a Columbia Banking System director. Settlement timing and form follow the company’s deferred compensation plan, meaning no current share delivery or market transaction occurs from this particular grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/16/2026 - 04:46 PM Learn about SEC filing dates

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 WASHINGTON 98402

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

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

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

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)	06/15/2026		A		563		(1)	(1)	Common	563	$31.78	48,966	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 settled in accordance with the terms of the deferred compensation plan following the reporting person's cessation of service as a director of the Registrant.

Remarks:

	/s/ Andrea M. Newburn, Attorney-in-fact	06/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)