CLBK · Columbia Financial, Inc.

Columbia Financial, Inc. entered into new employment agreements with five key executives, effective April 1, 2026, replacing prior agreements for four of them. The two-year contracts include automatic annual extensions unless notice is given. Base salaries range from $430,000 to $700,000, with eligibility for annual bonuses under the PAIP and equity awards under the LTIP. Severance provisions are significant: termination without cause entitles executives to two times base salary plus target bonus, while termination within 24 months after a change in control triggers three times that amount, plus COBRA reimbursement for 36 months. The agreements also include 24-month non-compete and non-solicitation clauses. These arrangements align executive retention with the company's pending second-step conversion and provide stability in leadership.