Christopher Merrywell - 01 Mar 2024 Form 4 Insider Report for COLUMBIA BANKING SYSTEM, INC. (COLB)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	COLB	Restricted Stock Unit	Award	$439,995	+24,622		$17.87	24,622	01 Mar 2024	Common Stock	24,622	Direct	F1, F2
transaction	COLB	Performance Restricted Stock Unit	Award	$329,987	+18,466		$17.87	18,466	01 Mar 2024	Common Stock	18,466	Direct	F1, F3
transaction	COLB	Performance Restricted Stock Unit	Award	$329,987	+18,466	+100%	$17.87	36,932	01 Mar 2024	Common Stock	18,466	Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The restricted stock units and performance restricted stock units will be settled in cash; provided that the grants may be settled in shares following shareholder approval of an applicable equity incentive plan.
F2	Restricted stock units granted 03/01/2024. Beginning on the first anniversary of the grant date, the grant will vest 33.33% per year for three years.
F3	Performance restricted stock units granted 03/01/2024. The grant will vest approximately three years following the grant date based on the issuer's relative total shareholder return performance for fiscal years 2024-2026 compared to a Compensation Committee approved group of peers.
F4	Performance restricted stock units granted 03/01/2024. The grant will vest approximately three years following the grant date based on the issuer's relative return on tangible common equity for fiscal years 2024-2026 compared to a Compensation Committee approved group of peers.