Northrim BanCorp Reports Officer/Director Changes, Comp Arrangements
Ticker: NRIM · Form: 8-K · Filed: Jan 2, 2024 · CIK: 1163370
| Field | Detail |
|---|---|
| Company | Northrim Bancorp Inc (NRIM) |
| Form Type | 8-K |
| Filed Date | Jan 2, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $580,639, $353,404, $365,161, $284,606, $309,798 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: executive-changes, compensation, governance
TL;DR
**Northrim BanCorp just filed an 8-K about executive changes and pay, watch for details.**
AI Summary
Northrim BanCorp, Inc. filed an 8-K on January 2, 2024, reporting an event that occurred on January 1, 2024. The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'. This matters to investors because changes in executive leadership or their compensation can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.
Why It Matters
Changes in leadership and executive compensation can influence investor confidence and the company's strategic direction, directly affecting its long-term value.
Risk Assessment
Risk Level: medium — While the filing indicates changes, the specific details of those changes (who left, who joined, what compensation changed) are not provided in this summary, making the full impact unknown.
Analyst Insight
A smart investor would await further details or subsequent filings to understand the specific personnel changes and compensation adjustments, as this initial 8-K only signals that such events have occurred without providing specifics.
Key Players & Entities
- Northrim BanCorp, Inc. (company) — the registrant filing the 8-K
- January 2, 2024 (date) — date of report filing
- January 1, 2024 (date) — date of earliest event reported
FAQ
What is the purpose of Northrim BanCorp, Inc.'s 8-K filing dated January 2, 2024?
The 8-K filing by Northrim BanCorp, Inc. on January 2, 2024, reports on events related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 1, 2024.
What is Northrim BanCorp, Inc.'s state of incorporation?
Northrim BanCorp, Inc. is incorporated in Alaska.
What is the registrant's telephone number?
The registrant's telephone number is 907-562-0062.
Under which SEC Act is this 8-K filed?
This 8-K is filed under the 1934 Act.
Filing Stats: 1,170 words · 5 min read · ~4 pages · Grade level 10 · Accepted 2024-01-02 12:51:50
Key Financial Figures
- $580,639 — vides for an increase in base salary to $580,639. Mr. Ballard's new employment agreeme
- $353,404 — vides for an increase in base salary to $353,404. Mr. Huston's new employment agreemen
- $365,161 — agreement provides for a base salary of $365,161. Mr. Craig's new employment agreement
- $284,606 — agreement provides for a base salary of $284,606. In addition, on January 1, 2024, the
- $309,798 — s will receive an annual base salary of $309,798 as adjusted from time to time, and an a
Filing Documents
- nrim-20240101.htm (8-K) — 47KB
- a101schierhorn2024employme.htm (EX-10.1) — 79KB
- a102ballard2024employmenta.htm (EX-10.2) — 79KB
- a103huston2024employmentco.htm (EX-10.3) — 77KB
- a104craig2024employmentcon.htm (EX-10.4) — 78KB
- a105zins2024employmentcont.htm (EX-10.5) — 78KB
- 0001163370-24-000002.txt ( ) — 644KB
- nrim-20240101.xsd (EX-101.SCH) — 2KB
- nrim-20240101_lab.xml (EX-101.LAB) — 24KB
- nrim-20240101_pre.xml (EX-101.PRE) — 12KB
- nrim-20240101_htm.xml (XML) — 2KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) Financial statements – not applicable (b) Proforma financial information – not applicable (c) Shell company transactions – not applicable (d) Exhibit No. Description 10.1 Employment agreement with Joseph M. Schierhorn dated January 1, 2024 10.2 Employment agreement with Jed W. Ballard dated January 1, 2024 10.3 Employment agreement with Michael G. Huston dated January 1, 2024 10.4 Employment agreement with Benjamin Craig dated January 1, 2024 10.5 Employment agreement with Amber Zins dated January 1, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Northrim BanCorp, Inc. January 2, 2024 By: /s/ Jed W. Ballard Name: Jed W. Ballard Title: EVP, Chief Financial Officer Exhibit Index Exhibit No. Description 10.1 Employment agreement with Joseph M. Schierhorn dated January 1, 2024 10.2 Employment agreement with Jed W. Ballard dated January 1, 2024 10.3 Employment agreement with Michael G. Huston dated January 1, 2024 10.4 Employment agreement with Benjamin Craig dated January 1, 2024 10.5 Employment agreement with Amber Zins dated January 1, 2024