MACHUCA LUIS 4

What Happened
Luis Machuca, a director of Columbia Banking System, Inc. (COLB), was granted 659 derivative shares (phantom stock) on 2026-03-16 at a valuation of $26.83 per share, for a total value of approximately $17,681. This was an award under the company's deferred compensation plan (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-16, 659 shares @ $26.83 each (total ≈ $17,681).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote: The award is phantom stock accrued under the Registrant’s deferred compensation plan and will be paid in accordance with that plan following the end of the reporting person’s employment.
• Timeliness: Filing period reported 2026-03-16 and Form 4 filed 2026-03-17 — appears timely (Form 4s are due within two business days of the transaction).

Context
This was a derivative/compensation award (phantom stock), meaning Machuca received a credit tied to company stock value rather than immediate stock delivery. Such awards reflect compensation arrangements and do not directly indicate an insider buying shares in the open market or selling holdings.