4/A: Northrim Bancorp CFO Amends Form 4 Filing to Correctly Report Securities Ownership

Jed W. Ballard, EVP and CFO of Northrim Bancorp, files an amendment to a previous Form 4 to correct inaccuracies in reported securities holdings, specifically regarding restricted stock units.

Summary

• Jed W. Ballard, the EVP and CFO of Northrim Bancorp, filed an amended Form 4 with the SEC on April 1, 2025.
• This amendment corrects errors in the original Form 4 filed on March 28, 2025, which incorrectly reported the amounts of securities held, including unvested restricted stock units (RSUs).
• The corrected filing shows Ballard directly owns 4,628 shares of common stock.
• It also reports 1,414 restricted stock units that vest 100% three years from the grant date of March 27, 2025.
• These RSUs represent a contingent right to receive one share of Northrim common stock each and were awarded for no consideration.

Sentiment

Score: 7

Explanation: The document is a routine correction of a regulatory filing. While a correction was needed, it doesn't indicate a fundamental problem with the company. The sentiment is neutral to slightly positive as it shows management is taking steps to ensure accurate reporting.

Negatives

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

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The correction of the Form 4 filing ensures accurate information is available to shareholders regarding insider ownership.

Key Dates

Keywords

Form 4, Amendment, Securities, Northrim Bancorp, Restricted Stock Units, Ownership, Ballard, NRIM