---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-011079"
form_type: "8-K"
ticker: "FNWB"
cik: "0001556727"
company_name: "First Northwest Bancorp"
filed_at: "2024-04-04T23:59:59+00:00"
generated_at: "2026-06-04T02:18:36.250108+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# First NW Bancorp adopts Executive CIC Plan for 6 officers (excl. CEO)

## Summary
- Six executive officers of First NW Bancorp and First Fed (excluding CEO Matthew Deines) entered CIC Plan effective April 2024.
- Plan pays lump sum of 2x (base salary + target bonus) if terminated without cause/for good reason within 24 months of a Change in Control.
- Also provides pro-rata bonus, accrued obligations, and 24 months COBRA coverage; benefits subject to 280G parachute reduction.
- CEO Deines not included because his existing employment agreement already provides CIC benefits and expires December 2024.

## SEC filing metadata
- accession: 0001437749-24-011079
- form_type: 8-K
- ticker: FNWB
- cik: 0001556727
- company_name: First Northwest Bancorp
- filed_at: 2024-04-04T23:59:59+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/1556727/000143774924011079/0001437749-24-011079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556727/000143774924011079/fnwb20240403_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-011079
- JSON: https://secwatch.observer/filing/0001437749-24-011079.json
- Plain text: https://secwatch.observer/filing/0001437749-24-011079.txt

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