[Form 4] Columbia Sportswear Co Insider Trading Activity

Rhea-AI Filing Summary

Columbia Sportswear (COLM) – Form 4 filing (08/07/2025): Chairman, President & CEO Timothy P. Boyle, who is also a >10% owner, reported a series of estate-planning transfers dated 08/05/2025.

• Transaction code G (bona-fide gift) moved 38,540 common shares out of direct ownership at $0.
• Following the transaction, Boyle now holds 11,271,220 shares directly and 11,659,819 shares indirectly through grantor-retained annuity trusts (GRATs), plus small positions via a spouse trust (1,014) and voting trust (2,000).
• Footnotes reveal two larger internal transfers: (a) 1,896,959 shares were distributed from GRATs to Boyle on 8/5, while (b) 1,995,112 shares were moved to GRATs on 8/1. These offsetting moves indicate portfolio rebalancing rather than market sales.

No shares were sold on the open market and Boyle’s aggregate economic exposure to COLM stock remains effectively unchanged. The filing therefore appears routine and primarily related to wealth-transfer strategy, with limited immediate impact on public float or insider sentiment.

Positive

• No open-market sales; insider continues to hold roughly 24.9 million shares, showing long-term commitment.
• Transparent disclosure of complex trust movements provides clarity on insider holdings.

Negative

• Directly held shares declined by nearly 1.9 million, marginally reducing immediate alignment between CEO and shareholders.
• Complex trust structure may obscure true voting control for outside investors.

Insights

Equity Analyst

TL;DR – Gift transfers; no market sales; ownership intact.

The Form 4 shows Chairman/CEO Boyle shifting shares between direct ownership and GRATs, plus a small 38.5 k-share gift. Because the moves are zero-priced and internal, they neither create selling pressure nor change his aggregate stake (~24.9 m shares). This looks like standard estate planning, not a signal on fundamentals. Impact on valuation or liquidity is negligible; I classify the event as neutral.

Corporate Governance Specialist

TL;DR – Estate-planning reallocation; governance posture unchanged.

Boyle remains controlling shareholder after redistributing roughly 2 m shares into, and 1.9 m shares out of, GRATs. While direct voting power dips, trust vehicles are still under his control as trustee, so governance dynamics stay constant. Investors should note continued concentration of ownership but see no red flags—no sales, no dilution, and all transfers properly disclosed.

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^*

Boyle Joseph P

(Last) (First) (Middle)

C/O COLUMBIA SPORTSWEAR COMPANY

14375 NW SCIENCE PARK DRIVE

(Street)

PORTLAND OR 97229

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COLUMBIA SPORTSWEAR CO [ COLM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Columbia Brand President

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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
Common Stock								2,732,271	D
Common Stock								209,603	I	By Trust
Common Stock	08/05/2025		G		19,270	A	$0	19,270	I	By JPB Irrevocable Trust

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

Explanation of Responses:

Remarks:

	Christina A. Mecklenborg, Attorney-in-Fact	08/07/2025
	** 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

How many Columbia Sportswear shares does CEO Timothy P. Boyle now own?

After the reported gifts and trust transfers, Boyle holds 11,271,220 shares directly and 11,662,833 shares indirectly via various trusts.

Did the CEO sell any COLM shares in this Form 4 filing?

No. The filing lists a code G (gift) transaction at $0; there were no market sales.

What was the size of the gift transaction on 08/05/2025?

The Form 4 records a 38,540-share bona-fide gift by Timothy P. Boyle.

Why were nearly 2 million COLM shares moved between GRATs and direct ownership?

Footnotes indicate these transfers are part of estate-planning via grantor-retained annuity trusts, not investment disposals.

Does this insider activity affect Columbia Sportswear’s public float?

Because shares remained within Boyle-controlled entities and were not sold, the public float is essentially unchanged.