Northrim Bancorp (NRIM) CEO equity awards vest with shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Northrim Bancorp Chairman, President & CEO Michael G. Huston reported equity award vesting and related share movements. On March 23, 2026, restricted stock units covering 6,104 shares and performance stock units covering 10,286 shares of common stock were exercised or converted into common shares, with no cash exercise price.
Common stock entries show multiple acquisitions under code M and share dispositions under code F for tax withholding at $22.85 per share. Footnotes state the restricted stock units fully vested and the performance stock units vested at 150 percent based on performance over a three-year period. After these transactions, Huston directly holds 96,127 shares of Northrim Bancorp common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,390 shares exercised/converted
Mixed
6 txns
Insider
Huston Michael G.
Role
Chairman, President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,104 | $0.00 | -- |
| Exercise | Performance Stock Units | 10,286 | $0.00 | -- |
| Exercise | Common Stock | 6,857 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,763 | $22.85 | $40K |
| Exercise | Common Stock | 10,286 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,505 | $22.85 | $57K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Performance Stock Units — 0 shares (Direct);
Common Stock — 90,109 shares (Direct)
Footnotes (1)
- Includes 753 shares issued for payment of dividends under the Northrim BanCorp, Inc. Stock Option Plan. Shares withheld by the Company at the request of the Reporting Person to pay taxes due following the expiration of the applicable restriction period, under the terms of the Northrim BanCorp, Inc. Stock Incentive Plan. Under the terms of the Northrim BanCorp, Inc. Stock Incentive Plan, the underlying securities were earned (150 percent) based on the Companys performance relative to an industry peer group over a three-year performance period. Determination of the percentage of the award earned was made by the Compensation Committee on March 23, 2026, and calculation of the underlying shares to be delivered, net of withholding, was completed on March 23, 2026. Includes 1,130 shares issued for the payment of dividends under the Northrim BanCorp, Inc. Stock Incentive Plan. No conversion or exercise price applies. The total grant of restricted stock units vested on March 23, 2026. Performance stock units vested at 150 percent based on the Companys performance relative to an industry peer group over a three-year performance period.
FAQ
What insider transaction did Northrim Bancorp (NRIM) CEO Michael Huston report?
Michael Huston reported vesting and conversion of equity awards into Northrim Bancorp common stock. Restricted stock units and performance stock units were exercised or converted, with resulting common shares issued and some shares withheld to cover tax obligations under the company’s stock incentive plans.
How were taxes handled in Michael Huston’s Northrim Bancorp (NRIM) Form 4 transactions?
Shares were withheld by Northrim Bancorp at Huston’s request to pay taxes due after vesting. Two Form 4 entries coded F show 1,763 and 2,505 common shares withheld at a price of $22.85 per share, consistent with payment of tax liabilities on the vested equity awards.
What performance conditions applied to Michael Huston’s Northrim Bancorp (NRIM) performance stock units?
Footnotes state the performance stock units vested at 150 percent based on Northrim Bancorp’s performance versus an industry peer group over a three-year period. The Compensation Committee determined the earned percentage and calculated underlying shares to be delivered on March 23, 2026, net of required withholding.