Northrim BanCorp announced a 4-for-1 forward stock split of its common stock.
The purpose of the split is to enhance stock liquidity and make shares more accessible to retail investors.
Shareholders will receive three additional shares for each share held.
Stock Split
Northrim BanCorp approved a 4-for-1 forward stock split to enhance liquidity and accessibility.
Trading Symbol
The common stock will continue trading under the symbol 'NRIM' post-split.
Adjustments
Proportional adjustments will be made to stock options, awards, and equity plans due to the stock split.
- The stock split will increase the outstanding shares from 5.5 million to 22.0 million.
- Proportional adjustments will be made to maintain fairness for existing shareholders.
- The split aims to support increased trading activity and broaden retail investor participation.
The stock split by Northrim BanCorp is expected to benefit shareholders by increasing liquidity and accessibility.