Northrim BanCorp enters new employment agreements with five executives; salary increases for Ballard and Zins

NORTHRIM BANCORP INC

New employment agreements effective Jan 1, 2025 for CEO Huston (base $535K), CFO Ballard ($376,375), Chairman Schierhorn, EVP Zins ($329,935), and new EVP Edwards ($289,682).
Ballard’s salary increased to $376,375; Zins’ salary increased to $329,935; other officers’ terms essentially unchanged from prior agreements.
Mark Edwards appointed EVP/Chief Credit Officer/Bank Economist; initial term to Dec 31, 2025, with automatic renewal; base salary $289,682 plus SERP contribution.
Severance includes 2x salary for Huston, 1x for others under change of control; standard non-compete and non-solicitation clauses.
Agreements filed as Exhibits 10.1-10.5; contain clawback provisions under company policy.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Mark Edwards

Executive Vice President, Chief Credit Officer and Bank Economist

NRIM · NORTHRIM BANCORP INC

Effective: 2025-01-01
Filed: January 2, 2025, 6:59 PM ET

In addition, on January 1, 2025, the Employer entered into an employment with Mark Edwards, Executive Vice President, Chief Credit Officer and Bank Economist of the Bank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Mark Edwards was appointed as Executive Vice President, Chief Credit Officer and Bank Economist at NORTHRIM BANCORP INC.

Action: appointed
Role: Executive Vice President, Chief Credit Officer and Bank Economist

Exact text from the filing

In addition, on January 1, 2025, the Employer entered into an employment with Mark Edwards, Executive Vice President, Chief Credit Officer and Bank Economist of the Bank.

View on SEC.gov

NORTHRIM BANCORP INC filing history →

Source: SEC EDGAR

accession 0001163370-25-000002

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.