BARUFFI KUMI YAMAMOTO 4

What Happened

• Kumi Yamamoto Baruffi, EVP, General Counsel & Corporate Secretary of Columbia Banking System, had 2,381 restricted stock units (RSUs) convert into 2,381 common shares on March 13, 2026 (valued at $26.23/share, total ~$62,454). On the same day she sold 937 of those shares in an open-market sale at $26.23 each for proceeds of $24,578. The RSU conversion is recorded as a derivative conversion (code M) and the conversion itself carried no cash exercise cost.

Key Details

• Transaction date: March 13, 2026; Form 4 filed March 17, 2026 (timely).
• Conversion: 2,381 RSUs → 2,381 shares valued at $26.23/share (total ~$62,454).
• Sale: 937 shares sold open market at $26.23/share for $24,578.
• Remaining from this vesting: 1,444 shares retained (2,381 vested − 937 sold).
• Footnote: 7,142 RSUs were granted on Feb 25, 2025 and vest in three annual installments beginning March 13, 2026.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting); S = open-market sale.

Context

• The RSU conversion is an award vesting (no purchase price) rather than an option exercise that required cash; the sale of some vested shares on the same day is a common, routine action following vesting (often used to cover taxes or liquidity needs), though the filing does not state a reason. This is not a 10% owner transaction and was reported within the normal Form 4 filing window.