Northrim EVP Reed reports RSU and stock holdings

Northrim Bancorp executive Nathan Timothy Reed, EVP and CIO of Northrim Bank, filed an initial Form 3 showing his equity interests.

Filing Impact

(Neutral)

Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Northrim Bancorp executive Nathan Timothy Reed, EVP and CIO of Northrim Bank, filed an initial Form 3 showing his equity interests. He reports 265 shares of common stock held indirectly through a 401(k) plan and no directly held common shares.

Reed also reports two grants of restricted stock units (RSUs) that can settle in Northrim common stock. One RSU position covers 1,824 underlying shares and vests 100% three years from its March 27, 2025 grant date. A second RSU position covers 2,428 underlying shares and vests 100% three years from its April 27, 2026 grant date. Each RSU represents a contingent right to receive one share of Northrim common stock.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider REED NATHAN TIMOTHY

Role EVP, CIO of Northrim Bank

Type	Security	Shares	Price	Value
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 4,252 contracts (Direct); Common Stock — 0 shares (Direct); Common Stock — 265 shares (Indirect, By 401(k))

Footnotes (3)

F1. The restricted stock units vest 100% three years from the grant date of March 27, 2025.
F2. Each restricted stock unit represents a contingent right to receive one share of Northrim common stock.
F3. The restricted stock units vest 100% three years from the grant date of April 27, 2026.

Key Figures

Indirect common stock holdings: 265 shares RSUs underlying shares (2025 grant): 1,824 shares RSUs underlying shares (2026 grant): 2,428 shares +1 more

4 metrics

Indirect common stock holdings 265 shares Common stock held indirectly via 401(k) after reported holdings

RSUs underlying shares (2025 grant) 1,824 shares Restricted stock units vesting 100% three years from March 27, 2025

RSUs underlying shares (2026 grant) 2,428 shares Restricted stock units vesting 100% three years from April 27, 2026

RSU-to-share ratio 1:1 Each restricted stock unit represents a contingent right to one common share

Key Terms

Restricted Stock Units, 401(k), contingent right, indirect ownership

4 terms

Restricted Stock Units financial

"The restricted stock units vest 100% three years from the grant date"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

401(k) financial

"Common Stock held indirectly with nature of ownership described as By 401(k)"

A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share"

indirect ownership financial

"Indirect ownership of common stock is shown with ownership code I"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 3 filing by Northrim Bancorp (NRIM) executive Nathan Timothy Reed show?

The Form 3 shows Nathan Timothy Reed’s initial ownership in Northrim Bancorp securities. It reports indirect holdings of common stock through a 401(k) and multiple restricted stock unit awards that may convert into common shares, providing a baseline of his equity-linked compensation.

How many Northrim Bancorp (NRIM) common shares does Nathan Timothy Reed hold in his 401(k)?

Nathan Timothy Reed reports holding 265 shares of Northrim common stock indirectly through a 401(k) plan. This reflects his beneficial interest in the plan’s holdings and establishes his initial indirect ownership position as disclosed in the Form 3 filing.

What restricted stock units (RSUs) does NRIM executive Nathan Timothy Reed report on his Form 3?

Reed reports two RSU positions tied to Northrim common stock. One covers 1,824 underlying shares and another covers 2,428 underlying shares. These RSUs represent compensation that may convert into common shares when vesting conditions are fully met.

When do Nathan Timothy Reed’s Northrim Bancorp (NRIM) RSUs vest according to the filing?

One RSU grant vests 100% three years from its March 27, 2025 grant date. A second RSU grant vests 100% three years from its April 27, 2026 grant date, indicating multi‑year service-based vesting schedules for this executive compensation.

How many Northrim Bancorp (NRIM) shares can Nathan Timothy Reed receive from his RSUs?

The Form 3 states each restricted stock unit represents a contingent right to receive one Northrim common share. With RSU positions tied to 1,824 and 2,428 underlying shares, Reed may ultimately receive the same number of shares if vesting conditions are satisfied.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/01/2026 - 11:24 AM EDT

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

REED NATHAN TIMOTHY

(Last)

(First)

(Middle)

3111 C STREET

(Street)

ANCHORAGE

ALASKA

99503

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
05/28/2026

3. Issuer Name and Ticker or Trading Symbol
NORTHRIM BANCORP INC [ NRIM ]

3a. Foreign Trading Symbol

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, CIO of Northrim Bank

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	0	D
Common Stock	265	I	By 401(k)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units	⁽¹⁾	⁽¹⁾	Common Stock	2,428	$0⁽²⁾	D
Restricted Stock Units	⁽³⁾	⁽³⁾	Common Stock	1,824	$0⁽²⁾	D

Explanation of Responses:

1. The restricted stock units vest 100% three years from the grant date of March 27, 2025.

2. Each restricted stock unit represents a contingent right to receive one share of Northrim common stock.

3. The restricted stock units vest 100% three years from the grant date of April 27, 2026.

Remarks:

	/s/ Nathan Timothy Reed	05/28/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR