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Northrim Bancorp (NRIM) grants director Joseph Marushack 1,456 RSUs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

MARUSHACK JOSEPH reported acquisition or exercise transactions in this Form 4 filing.

Northrim Bancorp director Joseph Marushack received a grant of 1,456 restricted stock units as equity compensation. Each unit represents a contingent right to one share of Northrim common stock and was awarded for no cash consideration. The units vest 100% one year from the grant date of June 1, 2026, and Marushack’s directly held restricted stock unit balance after this grant is 1,456 units.

Positive

  • None.

Negative

  • None.
Insider MARUSHACK JOSEPH
Role null
Type Security Shares Price Value
Grant/Award Restricted Stock Units 1,456 $0.00 --
Holdings After Transaction: Restricted Stock Units — 1,456 shares (Direct, null)
Footnotes (1)
  1. Each restricted stock unit represents a contingent right to receive one share of Northrim common stock. The restricted stock units vest 100% one year from the grant date of June 1, 2026. The grant of restricted stock units were awarded for no consideration.
RSUs granted 1,456 units Restricted stock units granted to director on June 1, 2026
Grant price $0.00 per unit RSUs awarded for no consideration
Underlying shares 1,456 shares Each RSU represents one Northrim common share
Post-grant RSU holdings 1,456 units Total restricted stock units directly held after transaction
Vesting schedule 100% after one year Vest 100% one year from June 1, 2026 grant date
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
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.
contingent right financial
"represents a contingent right to receive one share of Northrim common stock"
vest 100% financial
"The restricted stock units vest 100% one year from the grant date"
grant date financial
"vest 100% one year from the grant date of June 1, 2026"
The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.
consideration financial
"The grant of restricted stock units were awarded for no consideration"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
MARUSHACK JOSEPH
(Last)(First)(Middle)
3111 C STREET
(Street)
ANCHORAGE ALASKA 99503
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
NORTHRIM BANCORP INC [ NRIM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)06/01/2026A1,456 (2) (2)Common Stock1,456$0(3)1,456D
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of Northrim common stock.
2. The restricted stock units vest 100% one year from the grant date of June 1, 2026.
3. The grant of restricted stock units were awarded for no consideration.
Remarks:
/s/Joseph Marushack06/02/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Northrim Bancorp (NRIM) director Joseph Marushack report in this Form 4?

He reported receiving 1,456 restricted stock units as an equity award. These units were granted for no cash consideration and each represents a contingent right to receive one share of Northrim common stock, subject to future vesting conditions.

How many restricted stock units did NRIM grant to director Joseph Marushack?

Northrim granted Joseph Marushack 1,456 restricted stock units. Following this grant, his directly held restricted stock unit position reported in this filing is 1,456 units, all tied to Northrim common stock as the underlying security.

When do Joseph Marushack’s Northrim (NRIM) restricted stock units vest?

The restricted stock units vest 100% one year from the grant date of June 1, 2026. Vesting means that on that future date, the contingent rights convert into shares of Northrim common stock, assuming all conditions are met.

What does each restricted stock unit represent for Northrim Bancorp (NRIM)?

Each restricted stock unit represents a contingent right to receive one share of Northrim common stock. The units do not require cash payment by the director and convert into shares only after the specified vesting date and conditions are satisfied.

Did Joseph Marushack buy or sell Northrim (NRIM) shares in the market?

The filing shows a grant of 1,456 restricted stock units as compensation, not a market purchase or sale. The transaction code is “A,” indicating a grant or award acquisition rather than an open-market buy or sell transaction.

How many Northrim (NRIM) restricted stock units does Joseph Marushack hold after this grant?

After this grant, his total directly held restricted stock unit position reported is 1,456 units. These units are derivative securities that will convert into an equal number of Northrim common shares once they fully vest on the specified date.