secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2022-01-03T23:59:59+00:00
Accession:  0001163370-22-000002
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000002/0001163370-22-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000002/nrim-20220101.htm
  HTML page:      https://secwatch.observer/filing/0001163370-22-000002

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