Huston Michael G. 4

What Happened
Michael G. Huston, Chairman, President & CEO of Northrim Bancorp (NRIM), exercised/converted a total of 33,533 derivative awards (performance and restricted stock units) on March 23, 2026. Of those, 17,143 shares were reported as acquired/delivered to him, and 4,268 shares were withheld/sold to cover taxes (1,763 shares for $40,285 and 2,505 shares for $57,239, totaling $97,524). Several other converted award tranches are reported as dispositions in the filing (16,390 shares reported as derivative dispositions). No cash exercise price applied to these conversions.

Key Details

• Transaction date: March 23, 2026; Form 4 filed March 25, 2026 (timely within the typical 2-business-day window).
• Reported conversions/exercises (code M) total 33,533 shares.
• Shares withheld/sold for taxes (code F): 1,763 @ $22.85 = $40,285 and 2,505 @ $22.85 = $57,239 (total ~$97,524).
• Footnotes: PSUs vested at 150% based on three‑year relative performance vs. peer group (F3, F7); total RSUs vested (F6); dividends issued as shares were included in some withholdings (F1, F4); shares were withheld at the reporting person’s request to satisfy tax withholding (F2). F5 notes no conversion/exercise price applies.
• Shares owned after the transactions are not specified in the provided data.

Context
These entries reflect vesting/conversion of company equity awards (performance stock units and restricted stock units), not an open-market buy. The withholding/disposition entries (code F) are routine tax-withholding or net-settlement actions following vesting; the cash generated (~$97.5K) represents proceeds from shares withheld/sold to cover tax liabilities. Performance units were credited at 150% based on the company’s peer-relative results over the performance period.