Northrim BanCorp adopts 2023 Deferred Compensation Plan for key employees

NORTHRIM BANCORP INC

Plan effective Nov 30, 2023; eligible key employees may defer up to 90% of salary and incentive compensation.
Company may make discretionary contributions; vesting subject to schedule set by Compensation Committee.
Plan intended as unfunded, nonqualified deferred compensation under Code Section 409A.
Plan administrator is Compensation Committee; no immediate financial impact or guidance change.

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