Jenifer White Walden - Jun 2, 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
Jun 2, 2023
Transactions value $
$529
Form type
4
Date filed
6/6/2023, 04:31 PM
Previous filing
May 23, 2023
Next filing
Jun 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLBK Common Stock Award $529 +29.8 +10.63% $17.75 310 Jun 2, 2023 By Stock-Based Deferral Plan F1
holding CLBK Common Stock 1.95K Jun 2, 2023 By Stock Award F2
holding CLBK Common Stock 8.53K Jun 2, 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 Jun 2, 2023 Common Stock 5.54K $20.54 Direct F4
holding CLBK Stock Options (right to buy) 6.2K Jun 2, 2023 Common Stock 6.2K $15.94 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

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 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 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.