Northrim (NRIM) EVP and CIO Nathan Reed discloses 401(k) shares and RSU grants
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.
Positive
- None.
Negative
- None.
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 shares (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"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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.
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.