{"schema_version":"secwatch.filing_event.v1","accession":"0001163370-24-000012","form_type":"8-K","ticker":"NRIM","cik":"0001163370","company_name":"NORTHRIM BANCORP INC","filed_at":"2024-03-29T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.537180+00:00","generated_at":"2026-06-04T05:12:14.387710+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Northrim BanCorp promotes Huston to President/CEO; Schierhorn resigns as CEO but remains Chairman","bullets":["Joseph Schierhorn resigns as President, CEO, COO of Northrim BanCorp and CEO of Northrim Bank effective April 6, 2024; remains Chairman.","Michael Huston promoted to President, CEO, COO of BanCorp and President/CEO of Bank, effective April 6, 2024.","Huston receives annual base salary of $535,000 with increases to profit share, equity comp, and SERP contributions.","Schierhorn's base salary reduced to $200,000; no longer eligible for profit sharing, equity comp, or SERP."],"urls":{"canonical":"https://secwatch.observer/filing/0001163370-24-000012","json":"https://secwatch.observer/filing/0001163370-24-000012.json","markdown":"https://secwatch.observer/filing/0001163370-24-000012.md","text":"https://secwatch.observer/filing/0001163370-24-000012.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1163370/000116337024000012/0001163370-24-000012-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1163370/000116337024000012/nrim-20240329.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T05:12:14.387710+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"70b4a114e4","claim":"Michael G. Huston was appointed as President, Chief Executive Officer and Chief Operating Officer of the Company and President and Chief Executive Officer of the Bank at NORTHRIM BANCORP INC.","evidence_excerpt":"In connection with Mr. Schierhorn's resignation, Michael G. Huston, age 56, will be appointed to the position of President, Chief Executive Officer and Chief Operating Officer of the Company and President and Chief Executive Officer of the Bank, effective April 6, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1163370/000116337024000012/0001163370-24-000012-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President, Chief Executive Officer and Chief Operating Officer of the Company and President and Chief Executive Officer of the Bank"}],"fact_type":"executive_change"},{"claim_id":"c83ea293aa","claim":"Joseph M. Schierhorn resigned as President, Chief Executive Officer and Chief Operating Officer of the Company and Chief Executive Officer of the Bank at NORTHRIM BANCORP INC.","evidence_excerpt":"On March 29, 2024, Northrim BanCorp, Inc. (the “Company”) and Northrim Bank (the “Bank”) announced by press release that Mr. Joseph M. Schierhorn intends to resign from his position as President, Chief Executive Officer and Chief Operating Officer of the Company and Chief Executive Officer of the Bank, effective April 6, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1163370/000116337024000012/0001163370-24-000012-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"President, Chief Executive Officer and Chief Operating Officer of the Company and Chief Executive Officer of the Bank"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}