secwatch.observer — SEC 8-K summary
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Issuer:     First Northwest Bancorp (FNWB)
CIK:        0001556727
Form:       8-K
Filed at:   2024-12-11T23:59:59+00:00
Accession:  0001437749-24-037228
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northwest Bancorp enters new employment agreement with CEO; base salary $515,000
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- One-year term starting Dec 7, 2024, with employer option to extend annually.
- CEO eligible for annual incentive bonus and equity awards under company plans.
- Severance: 1x base salary + 90 days COBRA for without-cause or good-reason termination.
- Change-in-control severance: 1.5x base salary + 90 days COBRA if terminated within 12 months post-CIC.
- Restrictive covenants include one-year non-compete in counties where employer operates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924037228/0001437749-24-037228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924037228/fnwb20241209_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-037228

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