First Northwest Bancorp (FNWB) EVP awarded new restricted shares

Rhea-AI Filing Summary

First Northwest Bancorp EVP and Chief Innovation Officer David Benjamin Edelstein received a grant of 4,698 shares of common stock as restricted stock at $9.18 per share. The award was made under the company’s 2020 Equity Incentive Plan, with one-third vesting annually beginning on March 7, 2027.

On the same date, 393 shares of common stock were returned to the issuer at $9.18 per share in a disposition to the company. After these transactions, Edelstein directly holds 15,059 shares of First Northwest Bancorp common stock, including several prior unvested restricted stock awards with scheduled vesting beginning in 2026 and 2027.

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

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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^*

Edelstein David Benjamin

(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 Innovation 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		4,698(1)	A	$9.18	15,452(2)	D
Common Stock	03/07/2026		D		393	D	$9.18	15,059(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 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-half of which will vest annually beginning on May 7, 2026; 2,575 unvested shares of restricted stock granted under the Issuer's 2020 Plan, one-half of which will vest annually beginning on March 7, 2027; and 4,698 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, Attorney-in-Fact for David B. Edelstein	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did First Northwest Bancorp (FNWB) disclose in this Form 4 filing?

First Northwest Bancorp reported that EVP and Chief Innovation Officer David Benjamin Edelstein received a grant of 4,698 restricted shares at $9.18 and returned 393 shares to the company, leaving him with 15,059 directly held shares after the transactions.

How many First Northwest Bancorp (FNWB) shares did the EVP acquire and at what price?

David Benjamin Edelstein acquired 4,698 shares of First Northwest Bancorp common stock as a restricted stock award priced at $9.18 per share, granted under the company’s 2020 Equity Incentive Plan as part of his compensation package.

What vesting schedule applies to the new restricted stock granted to FNWB’s EVP?

The 4,698 restricted shares granted to First Northwest Bancorp’s EVP will vest in three equal annual installments, with one-third of the award vesting each year beginning on March 7, 2027, subject to the terms of the 2020 Equity Incentive Plan.

Why does the First Northwest Bancorp Form 4 show both acquisition and disposition of shares?

The Form 4 shows Edelstein acquiring 4,698 restricted shares and disposing of 393 shares back to the issuer on the same date, reflecting compensation-related equity activity and an issuer disposition rather than open‑market buying or selling of First Northwest Bancorp stock.

How many First Northwest Bancorp (FNWB) shares does the EVP own after these transactions?

After the Form 4 transactions, David Benjamin Edelstein directly holds 15,059 shares of First Northwest Bancorp common stock. This total includes previously granted unvested restricted stock awards that will vest over time beginning in 2026 and 2027 under the 2020 Equity Incentive Plan.

What other unvested restricted stock awards does FNWB’s EVP hold?

Edelstein’s holdings include 5,000 unvested restricted shares vesting half annually beginning May 7, 2026; 2,575 unvested shares vesting half annually beginning March 7, 2027; and the new 4,698 unvested shares vesting one‑third annually beginning March 7, 2027, all under the 2020 Plan.