4/A: Northrim Bancorp CEO Corrects Previous SEC Filing on Beneficial Ownership

Michael G. Huston, President, CEO, and COO of Northrim Bancorp, files an amendment to a previous Form 4 to correct inaccuracies regarding restricted stock units.

Summary

• Michael G. Huston, President, CEO, and COO of Northrim Bancorp, filed an amended Form 4 with the SEC.
• The amendment corrects a previous filing from March 28, 2025, which inadvertently reported incorrect amounts of securities held, including unvested RSU awards.
• The corrected filing shows Huston beneficially owns 20,438 shares of common stock directly.
• It also reports 2,388 restricted stock units (RSUs) that vest 100% three years from the grant date of March 27, 2025.
• Each RSU represents a contingent right to receive one share of Northrim common stock.
• The RSUs were awarded for no consideration.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing. The correction of an error is a neutral event, but transparency is generally viewed positively.

Negatives

• The original Form 4 filing contained inaccuracies regarding the amount of securities held by the reporting person.

Industry Context

Form 4 filings are a routine part of insider trading regulations, ensuring transparency in the market regarding the holdings and transactions of company executives and directors. Amendments, like this one, highlight the importance of accuracy in these filings.

Key Dates

Keywords

Form 4, Amendment, Beneficial Ownership, Restricted Stock Units, RSU, Northrim Bancorp, NRIM, Michael G. Huston, SEC Filing