First Northwest Bancorp Submits Form 8-K with Updates on Shareholder Meeting and Board of Directors Elections

Strategic Insights -

Shareholders of First Northwest Bancorp gathered at the 2025 Annual Meeting on May 20, 2025, to vote on several proposals, including the election of directors to the Board of Directors. The meeting saw a quorum of 7,819,769.61 shares of common stock, with all nominees being elected to serve as directors for a one-year term expiring at the annual meeting of shareholders in 2026. The election of directors was a significant outcome of the meeting, with a total of 9,440,618 shares of common stock outstanding and entitled to vote.

Key Takeaways:

  • The 2025 Annual Meeting of Shareholders of First Northwest Bancorp was held on May 20, 2025, with a quorum of 7,819,769.61 shares of common stock present.
  • Seven nominees were elected to the Board of Directors, including Sherilyn G. Anderson, Johanna A. Bartee, Dana D. Behar, Sean P. Brennan, Matthew P. Deines, Cindy H. Finnie, and Gabriel S. Galanda.
  • Proposal 2, which aimed to approve the Amended and Restated Articles of Incorporation removing the supermajority provisions, did not receive the required affirmative vote of at least 80% of the outstanding shares of common stock, with a percentage of 65.76% voting in favor.
  • Proposal 3, an advisory (non-binding) vote on the compensation of the Company's named executive officers, saw shareholders approve the compensation by a vote of 4,542,616.61 (67.80%) to 1,138,729.00 (17.00%).
  • Proposal 4, the ratification of the appointment of Moss Adams LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024, was approved by a vote of 7,231,736.61 (92.48%) to 545,800.00 (6.98%).

Statistics:

  • 9,440,618 shares of common stock were outstanding and entitled to vote at the Annual Meeting.
  • 7,819,769.61 shares of common stock were represented in person or by proxy, ensuring a quorum was present.
  • 6,187,787.61 (92.06%) of shares voted in favor of electing Sherilyn G. Anderson as a director.
  • 65.76% of shares voted in favor of Proposal 2.
  • 4,542,616.61 (67.80%) of shares voted in favor of Proposal 3.

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 20, 2025