Jenifer White Walden - May 5, 2023 Form 4 Insider Report for Columbia Financial, Inc. (CLBK)

Role: EVP & CHRO
Signature: /s/ Dennis E. Gibney, Power of Attorney
Stock symbol: CLBK
Transactions as of: May 5, 2023
Transactions value $: $529
Form type: 4
Date filed: 5/9/2023, 01:56 PM
Previous filing: May 3, 2023
Next filing: May 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLBK	Common Stock	Award	$529	+32.3	+15.11%	$16.38	246	May 5, 2023	By Stock-Based Deferral Plan	F1
holding	CLBK	Common Stock						1.95K	May 5, 2023	By Stock Award	F2
holding	CLBK	Common Stock						8.53K	May 5, 2023	By Stock Award II	F3

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	CLBK	Stock Options (right to buy)						5.54K	May 5, 2023	Common Stock	5.54K	$20.54	Direct	F4
holding	CLBK	Stock Options (right to buy)						6.2K	May 5, 2023	Common Stock	6.2K	$15.94	Direct	F5

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

Explanation of Responses:

Id	Content
F1	Represents phantom stock purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan. Stock unit interests under the Columbia Bank Stock Based Deferral Plan will be settled in shares of stock upon distribution to the reporting person.
F2	Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan, which vest in three equal annual installments commencing on October 31, 2023.
F3	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 May 1, 2024; 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.
F4	Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan, which vest in three equal annual installments commencing on October 31, 2023.
F5	Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on May 1, 2024.