4/A: Northrim Bancorp CEO Michael Huston Amends SEC Filing to Correct Stock Ownership
SEC Filing Amendment
Michael G. Huston, President, CEO, and COO of Northrim Bancorp Inc., amended a previous SEC filing to correct the amount of directly owned common stock.
Summary
- Michael G. Huston, the President, CEO, and COO of Northrim Bancorp Inc. (NRIM), filed an amendment to a Form 4 with the SEC.
- The amendment corrects the number of directly owned common stock shares reported in a previous filing from December 3, 2024.
- On November 29, 2024, Huston disposed of 236 shares of common stock at a price of $85.07 per share to cover taxes.
- The amended filing shows Huston directly owns 23,771 shares of common stock, which includes 123 shares issued for dividend payments under the company's stock option plan.
- The original filing inadvertently omitted 12 DEUs from the total directly owned common stock holding.
- Huston also indirectly owns 534 shares through the Northrim Stock Fund of the Northrim Bank Savings Incentive Plan.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing. While it indicates a past error, it doesn't suggest any fundamental issues with the company. The sentiment is neutral to slightly positive due to the transparency in correcting the error.
Negatives
- The original filing from December 3, 2024, contained an error regarding the number of directly owned common stock shares.
Industry Context
This filing is a routine disclosure related to insider trading and stock ownership, which is common for publicly traded companies. It ensures transparency and compliance with SEC regulations.
Stakeholder Impact
- The correction of the filing ensures accurate information is available to shareholders.
Key Dates
| Date | Description |
|---|---|
| 11/29/2024 | Date of transaction where 236 shares were disposed of. |
| 12/03/2024 | Date of original filing that was amended. |
| 02/12/2025 | Date of signature on the amended filing. |
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