Huston Michael G. 4

What Happened
Michael G. Huston, Chairman, President & CEO (also a director) of Northrim Bancorp, was granted 7,163 restricted stock units (RSUs) on April 27, 2026. The RSUs were awarded for no consideration (price $0) and are recorded as a derivative grant; they do not represent issued shares today and have no immediate cash value to Huston.

Key Details

• Transaction date: 2026-04-27 (reported 2026-04-28).
• Grant: 7,163 restricted stock units (RSUs) at $0 consideration (derivative award).
• Vesting: 100% vests three years from grant date (vest date: April 27, 2029).
• Footnotes: Each RSU converts to one share upon settlement; grant awarded for no consideration.
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Filing was submitted the next day (no late filing flag reported).

Context
RSUs are a form of equity compensation that convert into common shares upon vesting; they do not create immediate buying or selling pressure. This grant appears to be part of executive compensation, not an open-market purchase or sale, so it should be viewed as a compensation award rather than a direct signal of insider buying or selling intent. The ultimate economic value will depend on Northrim’s share price at vesting in 2029.