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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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(Exact name of registrant as specified in its charter)

Not Applicable

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Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

TITLE OF EACH CLASS			TRADING SYMBOL			NAME OF EXCHANGE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.126-2 of this chapter).

                                    Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ¨

Northrim BanCorp, Inc. (the “Company”) reports that Benjamin Craig, the Executive Vice President and Chief Information Officer of the Company’s wholly-owned subsidiary, Northrim Bank (the “Bank”), separated from employment with the Company and the Bank (collectively, the “Employer”) effective April 9, 2024. Under the terms of his Employment Agreement with the Employer, dated January 1, 2024, Mr. Craig is entitled to be paid all base salary earned and all reimbursable expenses incurred through such separation date, and an amount equal to 0.75 times the highest base salary earned by Mr. Craig over the prior three years. Additionally, the Employer will continue to provide Mr. Craig, at its expense, health and dental insurance benefits for a period of nine months following termination of his Employment Agreement. The foregoing description is qualified in its entirety by the full text of Mr. Craig’s Employment Agreement, a copy of which was filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 2, 2024, and is incorporated by reference herein.

(a) Financial statements – not applicable

(b) Proforma financial information – not applicable

(c) Shell company transactions – not applicable

(d) Exhibits – not applicable Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.