Northrim Bancorp (NRIM) director receives 1,456 restricted stock units as equity grant

Rhea-AI Filing Summary

Hanneman Karl L reported acquisition or exercise transactions in this Form 4 filing.

Northrim Bancorp Inc director Karl L. Hanneman received a grant of 1,456 restricted stock units (RSUs) on June 1, 2026. Each RSU represents a contingent right to receive one share of Northrim common stock, awarded for no cash consideration as equity-based compensation.

The RSUs vest 100% one year from the June 1, 2026 grant date, meaning Hanneman must remain eligible through that period before receiving the underlying common shares. After this grant, he holds 1,456 RSUs directly, with no remaining derivative positions reported in this filing.

Insights

Equity Compensation Analyst

Routine director equity grant with time-based vesting.

Northrim Bancorp Inc granted director Karl L. Hanneman 1,456 restricted stock units as part of his compensation, with no cash consideration. Each unit converts into one share of common stock if vesting conditions are met.

The RSUs vest in full one year from the June 1, 2026 grant date, so value realization depends on continued service through that date. No open-market buying or selling is involved, and this filing shows no remaining derivative positions beyond these RSUs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hanneman Karl L

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.

Key Figures

RSUs granted: 1,456 units RSU grant price: $0.00 per unit Underlying common shares: 1,456 shares +2 more

5 metrics

RSUs granted 1,456 units Restricted stock units granted to Karl L. Hanneman

RSU grant price $0.00 per unit Awarded for no consideration

Underlying common shares 1,456 shares Each RSU equals one Northrim common share

RSUs after transaction 1,456 units Total derivative securities following transaction

Grant date June 1, 2026 Date RSUs were granted

Key Terms

Restricted Stock Units, contingent right, vest 100%, no consideration

4 terms

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"

no 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 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^*

Hanneman Karl L

(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)

X	Director		10% 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)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	06/01/2026		A		1,456		(2)	(2)	Common Stock	1,456	$0(3)	1,456	D

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/ Karl L. Hanneman	06/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Northrim Bancorp (NRIM) director Karl Hanneman report on this Form 4?

Director Karl L. Hanneman reported receiving a grant of 1,456 restricted stock units. These units are a form of equity compensation that can convert into Northrim common shares if the specified vesting conditions are satisfied over time.

How many restricted stock units did NRIM grant to director Karl Hanneman?

Northrim Bancorp granted Karl L. Hanneman 1,456 restricted stock units. Each unit represents the right to receive one share of Northrim common stock, subject to vesting, giving him potential ownership of 1,456 additional shares when they convert.

When do Karl Hanneman’s NRIM restricted stock units vest?

The restricted stock units vest 100% one year from the June 1, 2026 grant date. Hanneman must satisfy the time-based vesting requirement over that year before receiving Northrim common shares underlying the 1,456 units reported.

Did Karl Hanneman pay anything for the Northrim Bancorp restricted stock units?

No, the restricted stock units were awarded for no consideration. This means Hanneman did not pay cash to receive the 1,456 RSUs; they were granted as part of his overall director compensation package at Northrim Bancorp.

Does this NRIM Form 4 show any stock sales or purchases by Karl Hanneman?

This Form 4 does not show any open-market stock sales or purchases. It reports only a grant of 1,456 restricted stock units as compensation, not a transaction where Hanneman bought or sold Northrim Bancorp common shares in the market.

How many Northrim-related derivative securities does Karl Hanneman hold after this grant?

After this grant, Hanneman holds 1,456 restricted stock units as derivative securities. The filing’s summary shows these as his position following the transaction, with no additional derivative holdings reported beyond these RSUs in this Form 4.