[Form 4] First Northwest Bancorp Insider Trading Activity

Rhea-AI Filing Summary

Kyle David Henderson, EVP and Chief Credit Officer of First Northwest Bancorp (FNWB), reported a sale of 165 shares of the issuer's common stock on 09/08/2025 at a price of $7.06 per share. After the reported transaction, Mr. Henderson beneficially owned 16,106 shares directly. His holdings include restricted stock awards under the company’s 2020 Equity Incentive Plan: 700 shares that vest in full on September 7, 2026; 5,000 unvested shares with half vesting annually beginning July 7, 2026; and 2,883 unvested shares with one‑third vesting annually beginning March 7, 2026. The Form 4 was filed by an attorney‑in‑fact for the reporting person.

Positive

• Retained substantial ownership: 16,106 shares remain beneficially owned after the sale
• Transparent vesting schedule: Specific restricted stock vesting dates and amounts disclosed

Negative

• Insider sale reported: 165 shares disposed at $7.06 per share

Insights

Financial Analyst

TL;DR: A small insider sale occurred; remaining direct holdings and multi‑year restricted stock indicate ongoing alignment with shareholders.

The sale of 165 shares at $7.06 is modest relative to total reported direct holdings of 16,106 shares and to the unvested restricted awards disclosed. This transaction appears to be a routine disposition rather than a material shift in insider ownership. The detailed vesting schedule for restricted stock shows continued future equity retention, which supports ongoing insider alignment with long‑term shareholder interests. No derivative positions or other compensatory exercises were reported.

Corporate Governance Expert

TL;DR: Disclosure is complete and conforms to Section 16 reporting; transaction is routine and accompanied by explicit restricted stock detail.

The Form 4 properly discloses the individual relationship to the issuer and provides a clear breakdown of vested and unvested restricted shares under the 2020 Equity Incentive Plan. The limited size of the sale and the remaining restricted awards reduce governance concerns about insider liquidity events. The filing was executed via attorney‑in‑fact, and no conflicting transactions or omissions are evident from the disclosed information.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Henderson Kyle David

(Last) (First) (Middle)

105 W 8TH ST

(Street)

PORT ANGELES WA 98362

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
First Northwest Bancorp [ FNWB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Credit Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/08/2025		F		165	D	$7.06	16,106(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 700 shares of restricted stock granted under the Issuer's 2020 Equity Incentive Plan ("2020 Plan"), which will vest in full on September 7, 2026; 5,000 unvested shares of restricted stock granted under the Issuer's 2020 Plan, one-half of which will vest annually beginning on July 7, 2026; and 2,883 unvested shares of restricted stock granted under the Issuer's 2020 Plan, one-third of which will vest annually beginning on March 7, 2026.

	/s/ Allison R. Mahaney, Attorney-in-Fact for Kyle David Henderson	09/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Kyle David Henderson report on Form 4 for FNWB?

He reported a sale of 165 shares of First Northwest Bancorp common stock on 09/08/2025 at $7.06 per share.

How many FNWB shares does Kyle David Henderson beneficially own after the reported transaction?

He beneficially owns 16,106 shares following the reported sale.

What restricted stock awards does the Form 4 disclose for Kyle David Henderson?

The Form 4 discloses 700 shares vesting in full on September 7, 2026; 5,000 unvested shares with one‑half vesting annually starting July 7, 2026; and 2,883 unvested shares with one‑third vesting annually starting March 7, 2026.

Was the Form 4 filed directly by Kyle David Henderson?

The form was executed and filed by an attorney‑in‑fact on behalf of Kyle David Henderson.

Does the Form 4 show any derivative transactions for FNWB by Kyle David Henderson?

No derivative securities (options, warrants, puts or calls) are reported in the Form 4 content provided.