Thomas J. Kemly, President and CEO of Columbia Financial, Inc./MD/ (NASDAQ:CLBK), filed a Form 4 on August 25, 2026, disclosing an acquisition of phantom stock units on August 21, 2026, through the Columbia Bank Stock Based Deferral Plan.

Key Highlights

  • Transaction: Kemly acquired 157.5649 phantom stock units at a price of $11.79 per unit on August 21, 2026, on a non-discretionary basis through a rabbi trust.
  • Plan holding: Following the transaction, 153,816.4041 shares are held indirectly through the Columbia Bank Stock Based Deferral Plan.
  • Direct ownership: Kemly directly holds 588,391 shares of common stock.
  • Stock options: Kemly holds five tranches of stock options covering a total of 2,019,066 shares with exercise prices ranging from $7.10 to $8.31.
  • Performance-based stock awards: Three stock award tranches totaling 311,141 shares are held indirectly, each subject to performance-based vesting criteria under the Columbia Financial, Inc. 2019 Equity Incentive Plan.
  • Additional indirect holdings: Shares are also held indirectly through a 401(k) (103,138), SERP (77,679), SIM (91,458), ESOP (19,117), and by spouse (13,052).

Kemly's Beneficial Ownership Following August 2026 Phantom Stock Acquisition

According to the filing, Thomas J. Kemly, who serves as both a Director and President and CEO of Columbia Financial, Inc./MD/ (NASDAQ:CLBK), reported the acquisition of 157.5649 phantom stock units on August 21, 2026, at a price of $11.79 per unit. The filing states these units were "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 that plan will be settled in shares of common stock upon distribution to Kemly.

In addition to the 588,391 shares held directly, Kemly's indirect holdings span several plans and relationships, as disclosed in the filing. These include 103,138 shares via a 401(k) plan, 77,679 shares via a SERP, 91,458 shares via SIM, 19,117 shares via an ESOP, and 13,052 shares held by a spouse. Three tranches of stock awards under the 2019 Equity Incentive Plan are also reported indirectly: 101,371 shares (Stock Award III), 120,318 shares (Stock Award IV), and 118,452 shares (Stock Award V), each subject to performance-based vesting conditions.

The filing also discloses five tranches of directly held stock options. Two tranches, covering 1,444,236 shares at $7.10 and 83,366 shares at $7.25, are described as fully vested and exercisable. The remaining three tranches, covering 81,769 shares at $7.50, 208,447 shares at $7.38, and 201,249 shares at $8.31, vest in three approximately equal annual installments commencing in March 2025, March 2026, and March 2027, respectively.

What Was Disclosed

Kemly's Form 4 reported the non-discretionary acquisition of 157.5649 phantom stock units at $11.79 each through the Columbia Bank Stock Based Deferral Plan, along with a comprehensive snapshot of his beneficial ownership across direct holdings, indirect plan accounts, and outstanding stock options.