---
schema_version: "secwatch.filing_event.v1"
accession: "0001163370-25-000002"
form_type: "8-K"
ticker: "NRIM"
cik: "0001163370"
company_name: "NORTHRIM BANCORP INC"
filed_at: "2025-01-02T23:59:59+00:00"
generated_at: "2026-05-28T17:39:23.500296+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001163370-25-000002
- form_type: 8-K
- ticker: NRIM
- cik: 0001163370
- company_name: NORTHRIM BANCORP INC
- filed_at: 2025-01-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163370/000116337025000002/0001163370-25-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163370/000116337025000002/nrim-20250101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163370-25-000002
- JSON: https://secwatch.observer/filing/0001163370-25-000002.json
- Plain text: https://secwatch.observer/filing/0001163370-25-000002.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163370/000116337025000002/0001163370-25-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.