secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2024-01-02T23:59:59+00:00
Accession:  0001163370-24-000002
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northrim BanCorp renews employment contracts for four NEOs, adds EVP/COO Zins agreement
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- Schierhorn base salary $580,639; Ballard $353,404; Huston $365,161; Craig $284,606.
- New employment agreement for Amber Zins as EVP/COO of Bank with $309,798 base salary.
- All agreements effective Jan 1, 2024, with automatic annual renewal unless 90-day notice given.
- Zins eligible for 10% SERP contribution, profit sharing, stock incentive, and deferred compensation.
- Change-of-control severance for Schierhorn and Zins: 2x highest base salary + 2x avg profit share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337024000002/0001163370-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337024000002/nrim-20240101.htm
  HTML page:      https://secwatch.observer/filing/0001163370-24-000002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer