Companies First Financial Northwest, Inc.
First Financial Northwest (FFNW): executive pay, fiscal 2024
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CEO pay, last three years
- $832,361FY2022
- $829,390FY2023
- $1,080,534FY2024
CEO total pay was $1,080,534 in fiscal 2024, up from $829,390 in fiscal 2023.
FY2024: salary $530,000 · bonus $0 · stock awards $153,124 · option awards $0
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Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Joseph Kiley | $530,000 | $0 | $153,124 | $0 | $191,044 | $142,494 | $63,872 | $1,080,534 |
| President and Chief Executive Officer | ||||||||
| Richard Jacobson | 375,000 | 0 | 72,228 | 0 | 114,519 | 115,876 | 73,836 | 751,459 |
| Executive Vice President, Chief Operating Officer and Chief Financial Officer | ||||||||
| Dalen Harrison | 295,000 | 0 | 56,820 | 0 | 88,613 | 0 | 48,170 | 488,603 |
| Executive Vice President and Chief Banking Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Joseph Kiley | $1,080,534 | $829,390 | $832,361 | ↑ +251,144 |
| Richard Jacobson | 751,459 | 705,509 | 627,409 | ↑ +45,950 |
| Dalen Harrison | 488,603 | 351,113 | 387,179 | ↑ +137,490 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The primary objective of the Compensation and Awards Committee is for management to be fairly compensated by maintaining base salaries in the upper tier range of published peer groups, providing excellent employee benefits, and offering personal days off. Incentive compensation is determined based on a weighted combination of corporate performance goals and a discretionary component, focusing on financial measures such as profitability, efficiency, growth, and asset quality trends.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2024
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Dalen Harrison | PSU | 710 | — | $15,407 |
| Richard Jacobson | PSU | 1,044 | — | 22,655 |
| Joseph Kiley | PSU | 2,208 | — | 47,914 |
| Richard Jacobson | Option | 30,000 | 12.06 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Ralph C. SabinIndependent · Board Chair · Compensation and Awards · Audit/Compliance/Risk | $80,000 | $0 | — | — | $1,717 | $81,717 |
| Joann E. LeeIndependent · Audit/Compliance/Risk (Chair) · Nominating and Corporate Governance | 76,000 | 0 | — | — | 1,615 | 77,615 |
| Roger H. MolvarIndependent · Compensation and Awards (Chair) | 72,000 | 0 | — | — | 1,432 | 73,432 |
| Diane C. DavisIndependent · Compensation and Awards · Nominating and Corporate Governance | 72,000 | 0 | — | — | 683 | 72,683 |
| Cindy L. RungerIndependent · Nominating and Corporate Governance (Chair) · Audit/Compliance/Risk | 72,000 | 0 | — | — | 421 | 72,421 |
| Richard P. JacobsonEmployee director | — | — | — | — | — | 0 |
| Joseph W. Kiley IIIEmployee director | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $18,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 1,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $372,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $5,868 |
| Total cost of the board | $377,868 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names First Financial Northwest as a peer
Companies that benchmark against FFNW
1 company names FFNW as a compensation peer
- United Security BancsharesUBFOFY2024
Each company listed discloses FFNW in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named FFNW in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | First Financial Northwest, Inc. | 2024 | Joseph Kiley | $530,000 | $153,124 | $0 | $191,044 | $1,080,534 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (13 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Joseph Kiley. DEF 14A, filed 2025-04-29. Section “Executive Compensation”. As printed: 1,080,534. View filing ↗
- Section 01, Richard Jacobson. DEF 14A, filed 2025-04-29. Section “Executive Compensation”. As printed: 751,459. View filing ↗
- Section 01, Dalen Harrison. DEF 14A, filed 2025-04-29. Section “Executive Compensation”. As printed: 488,603. View filing ↗
- Section 08, Ralph C. Sabin. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 81,717. View filing ↗
- Section 08, Joann E. Lee. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 77,615. View filing ↗
- Section 08, Roger H. Molvar. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 73,432. View filing ↗
- Section 08, Diane C. Davis. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 72,683. View filing ↗
- Section 08, Cindy L. Runger. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 72,421. View filing ↗
- Section 08, Richard P. Jacobson. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Joseph W. Kiley III. DEF 14A, filed 2025-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 372,000 + equity 0 + all other 5,868 = 377,868, summed across the director compensation table rows.
- First Financial Northwest, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2025-04-29. CEO total compensation as printed in First Financial Northwest, Inc.'s own proxy. As printed: 1,080,534. View filing ↗