First Northwest (FNWB) grants CLO 871 restricted common shares

Rhea-AI Filing Summary

Mahaney Allison Rebecca reported acquisition or exercise transactions in this Form 4 filing.

First Northwest Bancorp’s Chief Legal Officer Allison Rebecca Mahaney reported an equity award of 871 shares of common stock, valued at $9.18 per share. The award is restricted stock granted under the company’s 2020 Equity Incentive Plan and is structured as compensation rather than an open-market purchase.

One-third of this award will vest annually beginning on March 7, 2027. After the grant, Mahaney directly holds a total of 6,053 common shares. Footnotes explain that her holdings include 5,000 unvested restricted shares vesting in thirds starting November 7, 2026, and the 871 new unvested restricted shares vesting in thirds starting March 7, 2027. Overall, this filing reflects a routine executive equity grant that modestly increases her ownership stake.

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
Estimated average burden
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^*

Mahaney Allison Rebecca

(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)
	Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2026

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	03/07/2026		A		871(1)	A	$9.18	6,053(2)	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. Represents an award of shares of restricted stock under the Issuer's 2020 Equity Incentive Plan ("2020 Plan"), one-third of which will vest annually beginning on March 7, 2027.

2. Includes 5,000 unvested shares of restricted stock granted under the Issuer's 2020 Plan, one-third of which will vest annually beginning on November 7, 2026; and 871 unvested shares of restricted stock granted under the Issuer's 2020 Plan, one-third of which will vest annually beginning on March 7, 2027.

	/s/ Allison R. Mahaney	03/10/2026
	** 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 insider transaction did FNWB’s Chief Legal Officer report on the latest Form 4?

First Northwest Bancorp’s Chief Legal Officer Allison Rebecca Mahaney reported receiving 871 shares of restricted common stock as an equity award. The grant is under the company’s 2020 Equity Incentive Plan and is structured as compensation, not as an open-market stock purchase or sale.

How many First Northwest Bancorp (FNWB) shares were granted and at what price?

Mahaney was granted 871 shares of First Northwest Bancorp common stock, with the filing indicating a value of $9.18 per share. These shares are restricted stock issued as part of an equity incentive award, increasing her direct holdings to a total of 6,053 shares after the transaction.

When will the restricted stock awarded to FNWB’s Chief Legal Officer begin vesting?

The 871 restricted shares granted to FNWB’s Chief Legal Officer will vest in three equal installments, with vesting beginning on March 7, 2027. One-third of the award vests each year from that date, according to the equity incentive plan’s vesting schedule described in the filing’s footnotes.

What unvested restricted FNWB shares does the Chief Legal Officer hold after this grant?

The filing notes that Mahaney’s holdings include 5,000 unvested restricted shares granted under the 2020 Plan, vesting in thirds beginning November 7, 2026, and 871 unvested restricted shares vesting in thirds beginning March 7, 2027. These unvested awards form a significant portion of her reported share position.

Was the FNWB Form 4 transaction a stock purchase or a compensation grant?

The Form 4 describes a compensation grant, not an open-market stock purchase. The transaction is coded as an acquisition by grant or award, and the footnotes clarify it represents restricted stock issued under First Northwest Bancorp’s 2020 Equity Incentive Plan with a defined future vesting schedule.

How many FNWB shares does the Chief Legal Officer hold after the reported award?

After the restricted stock award, Mahaney directly holds a total of 6,053 shares of First Northwest Bancorp common stock. This figure includes both vested and unvested restricted shares described in the footnotes, reflecting her entire direct ownership position following the reported Form 4 transaction.