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Director at Northrim (NRIM) awarded 1,456 restricted stock units

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

Rhea-AI Filing Summary

SWALLING JOHN C reported acquisition or exercise transactions in this Form 4 filing.

Northrim Bancorp director John C. Swalling received a grant of 1,456 restricted stock units as equity compensation. Each unit represents a contingent right to receive one share of Northrim common stock. The units were awarded for no cash consideration and vest 100% one year from the grant date of June 1, 2026.

Positive

  • None.

Negative

  • None.
Insider SWALLING JOHN C
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 Grant of restricted stock units on June 1, 2026
Grant consideration $0.00 per unit Awarded for no consideration
Units after grant 1,456 units Total restricted stock units following transaction
Vesting schedule 100% after one year Vests one year from June 1, 2026 grant date
Underlying shares 1,456 common shares Each unit equals one share of Northrim common stock
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of Northrim common stock."
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
"Each restricted stock unit represents a contingent right to receive one share of Northrim common stock."
vest financial
"The restricted stock units vest 100% one year from the grant date of June 1, 2026."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
grant date financial
"The restricted stock units 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.
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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*
SWALLING JOHN C
(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/ John C. Swalling06/01/2026
** 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 insider transaction did Northrim Bancorp (NRIM) report for John C. Swalling?

Northrim Bancorp reported that director John C. Swalling received 1,456 restricted stock units as an equity grant. These RSUs were awarded for no cash consideration and provide a potential future right to receive Northrim common stock.

How many restricted stock units were granted to the Northrim (NRIM) director?

The director received 1,456 restricted stock units. After this grant, his reported derivative holdings related to these units total 1,456, reflecting the full amount of the award disclosed in this filing.

What does each restricted stock unit represent in the Northrim (NRIM) Form 4?

Each restricted stock unit represents a contingent right to receive one share of Northrim common stock. This means the director may receive one share per unit in the future, subject to the vesting conditions described.

When do the Northrim (NRIM) restricted stock units granted to the director vest?

The restricted stock units vest 100% one year from the grant date of June 1, 2026. Vesting must occur before the director can receive the underlying Northrim common shares associated with the award.

Did the Northrim (NRIM) director pay for the restricted stock unit grant?

No, the grant of 1,456 restricted stock units was awarded for no consideration. This indicates the award functions as stock-based compensation rather than a purchase transaction by the director.

What type of security underlies the Northrim (NRIM) restricted stock units?

The restricted stock units are linked to Northrim common stock as the underlying security. Upon vesting and settlement, each unit may convert into one share of Northrim common stock for the director.