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

Rhea-AI Filing Summary

Karp David W reported acquisition or exercise transactions in this Form 4 filing.

Northrim Bancorp director David W. Karp received a grant of 1,456 restricted stock units. 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 June 1, 2026 grant date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Karp David W

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 Underlying common shares: 1,456 shares Grant consideration: $0.00 +1 more

4 metrics

RSUs granted 1,456 units Restricted stock units awarded to director David W. Karp

Underlying common shares 1,456 shares Each unit represents one share of Northrim common stock

Grant consideration $0.00 Grant of restricted stock units awarded for no consideration

Vesting schedule 100% after 1 year Vests one year from June 1, 2026 grant date

Key Terms

Restricted Stock Units, contingent right, vest, consideration

4 terms

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.

consideration financial

"The grant of restricted stock units were awarded for no consideration."

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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^*

Karp David W

(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/ David W Karp	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 David W. Karp report on this Form 4?

David W. Karp reported receiving a grant of 1,456 restricted stock units of Northrim Bancorp. These units are a form of equity compensation that can settle in common shares if the vesting conditions described in the grant are satisfied over time.

How many Northrim Bancorp (NRIM) restricted stock units were granted to David W. Karp?

David W. Karp was granted 1,456 restricted stock units. Each unit represents a right to receive one share of Northrim common stock, giving him potential future ownership of 1,456 shares if all units vest and are settled in stock as outlined.

When do David W. Karp’s Northrim Bancorp (NRIM) restricted stock units vest?

The restricted stock units are scheduled to vest 100% one year from the grant date of June 1, 2026. Vesting means the units become non-forfeitable, after which they can convert into Northrim common shares under the award’s terms.

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 right becomes effective when vesting conditions are met, providing the director equity-based compensation instead of immediate cash payment.

Did David W. Karp pay cash consideration for the Northrim Bancorp (NRIM) RSU grant?

No. The Form 4 notes that the grant of restricted stock units was awarded for no consideration. This means Karp did not pay cash for the units; they were provided as part of his compensation from Northrim Bancorp.

Is this Northrim Bancorp (NRIM) Form 4 an open-market stock purchase or sale?

No. The Form 4 reports a grant of restricted stock units, not an open-market trade. The transaction code is for a grant or award, reflecting equity compensation, rather than a buy or sell of existing Northrim common shares in the market.