Form 4: First Northwest Bancorp Director Gabriel Steven Galanda Acquires Restricted Stock

Director Gabriel Steven Galanda acquired 2,219 shares of restricted stock in First Northwest Bancorp (FNWB) on March 7, 2025, at a price of $10.48 per share, under the company's 2020 Equity Incentive Plan.

Summary

• On March 7, 2025, Gabriel Steven Galanda, a director of First Northwest Bancorp (FNWB), acquired 2,219 shares of common stock.
• The acquisition was in the form of restricted stock awarded under the Issuer's 2020 Equity Incentive Plan.
• The price of the stock was $10.48 per share.
• The restricted stock will vest in full on March 7, 2026.
• Following the transaction, Galanda beneficially owns 9,033 shares, which includes the 2,219 unvested shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of shares by a director is generally a positive sign, indicating confidence in the company's prospects. The restricted nature of the stock suggests a long-term commitment.

Positives

• The acquisition of restricted stock by a director signals confidence in the company's future performance.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of the restricted stock in March 2026 suggests a long-term commitment from the director.

Industry Context

This type of stock award is a common practice in the banking industry to align the interests of directors with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Stock grants to directors are a common practice across the banking industry.
• Comparable companies such as Columbia Banking System and Umpqua Holdings Corporation also utilize equity incentive plans to compensate and retain their directors.
• The vesting schedule of one year is fairly standard, aligning with typical industry practices for director stock grants.

Stakeholder Impact

• The acquisition of restricted stock by a director can positively influence shareholder sentiment.

Key Dates