Karp David W 4

What Happened

David W. Karp, a director of Northrim Bancorp, was granted 1,456 restricted stock units (RSUs) on June 1, 2026. The award is reported as a derivative transaction (Code A) at an acquisition price of $0.00 — the RSUs were awarded for no consideration. Each RSU represents a contingent right to one share of Northrim common stock and vests 100% one year from the grant date (June 1, 2027). The Form 4 was filed on June 2, 2026.

Key Details

• Transaction date and type: 2026-06-01 — Grant/Award (Code A) of 1,456 RSUs @ $0.00.
• Vesting: 100% vests one year from grant date (June 1, 2027).
• Footnotes: F1 — each RSU converts to one share; F2 — 100% vesting in one year; F3 — granted for no consideration.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Reported June 2, 2026 for a June 1, 2026 grant — appears to be filed promptly.

Context

RSUs are a form of compensation that convert into actual shares upon vesting and are not an open-market purchase or sale. Because these units are contingent and subject to vesting, the grant itself does not indicate an immediate buying or selling decision by the insider; it is a routine equity compensation mechanism used to align executive/director interests with shareholders.