MARUSHACK JOSEPH 4

What Happened
Joseph Marushack, a director of Northrim Bancorp, was granted 1,456 restricted stock units (RSUs) on June 1, 2026. The Form 4 reports the acquisition as a derivative award (code A) at $0.00 per unit (total reported value $0), noting the RSUs were awarded for no consideration rather than bought or sold.

Key Details

• Transaction date: 2026-06-01 (reported on Form 4 filed 2026-06-02); filing appears timely (filed the next day).
• Security: 1,456 restricted stock units (derivative instrument). Reported price: $0.00; total reported value: $0.
• Vesting: 100% vests one year from the grant date (June 1, 2027).
• RSU mechanics: Each RSU represents a contingent right to receive one share of Northrim common stock upon vesting (per filing footnote).
• Shares owned after transaction: Not disclosed in the Form 4.
• Footnotes: F1 = each RSU equals a contingent right to one share; F2 = 100% vesting one year from grant; F3 = granted for no consideration.

Context
RSU grants are typically compensation or retainer awards for executives or directors and do not represent an open-market purchase or sale. Because these are contingent derivative awards that vest in the future, they do not immediately change outstanding common shares until conversion at vesting and therefore are a neutral signal by themselves.