---
schema_version: "secwatch.filing_event.v1"
accession: "0001163370-22-000002"
form_type: "8-K"
ticker: "NRIM"
cik: "0001163370"
company_name: "NORTHRIM BANCORP INC"
filed_at: "2022-01-03T23:59:59+00:00"
generated_at: "2026-06-27T21:15:53.253491+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Northrim BanCorp enters new employment agreements with five executives effective Jan 1, 2022

## Summary
- CEO Schierhorn base salary increased to $465,255; CFO Ballard to $294,074; Huston to $295,230; Craig to $249,317.
- Steve Aldrich, President/CEO of Residential Mortgage, named executive officer; base salary $252,384 plus $50,000 annual deferred comp contribution.
- Aldrich eligible for monthly bonus equal to 5% of RMHC cumulative pre-tax net earnings minus prior bonuses.
- All agreements include change-in-control protections, severance terms, and non-compete/non-solicitation clauses.

## SEC filing metadata
- accession: 0001163370-22-000002
- form_type: 8-K
- ticker: NRIM
- cik: 0001163370
- company_name: NORTHRIM BANCORP INC
- filed_at: 2022-01-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163370/000116337022000002/0001163370-22-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163370/000116337022000002/nrim-20220101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163370-22-000002
- JSON: https://secwatch.observer/filing/0001163370-22-000002.json
- Plain text: https://secwatch.observer/filing/0001163370-22-000002.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.