Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-09

First Northwest Bancorp (FNWB)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,116,357
Matthew Deines total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
90.37%
Say-on-pay support, latest vote
Companies that benchmark against FNWB
2 companies name FNWB as a compensation peer

Each company listed discloses FNWB 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 FNWB in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Matthew Deines$310,734$0$259,013$0$0$0$546,610$1,116,357
Former President and Chief Executive Officer
Geraldine Bullard379,407250,000155,29100028,554813,253
Former Executive Vice President, Interim Chief Executive Officer and Chief Operating Officer
Curt Queyrouze133,269100,000393,5000005,117631,886
President and Chief Executive Officer
Christopher Riffle224,423091,008000299,879615,310
Former Executive Vice President, Chief Strategy Officer / General Counsel
David Edelstein343,846091,008053,372012,173500,399
Executive Vice President, Chief Innovation Officer
Kyle Henderson278,461067,921051,75609,839407,977
Executive Vice President, Chief Credit 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Matthew Deines$1,116,357$811,352+305,005
Geraldine Bullard813,253503,013+310,240
Curt Queyrouze631,886
Christopher Riffle615,310
David Edelstein500,399
Kyle Henderson407,977

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Phyllis Rose NomuraEVP, Chief Financial Officer2026-05-07D605$10$6,032CommonForm 4 ↗
Jennifer Ellen GribbleEVP, Chief People Officer2026-05-07A7,0001069,790CommonForm 4 ↗
David EdelsteinEVP, Chief Innovation Officer2026-05-07D508105,065CommonForm 4 ↗
Sean P. BrennanDirector2026-05-13A65096,008CommonForm 4 ↗
John Christopher WalshEVP, Chief Banking Officer2026-07-07A10,00011111,700CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David EdelsteinRSA2025-03-073,863$40,484
David EdelsteinPSA2025-03-074,821
Kyle HendersonPSA2025-03-073,598
Geraldine BullardRSA2025-07-137,50060,263
Kyle HendersonRSA2025-03-072,88330,214
Curt QueyrouzeRSA2025-09-3050,000393,500
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Curt QueyrouzeRSU50,000$469,000
David EdelsteinRSU3,86336,235
Geraldine BullardRSU7,50070,350
Kyle HendersonRSU5,00046,900
Kyle HendersonPSU3,59833,749
David EdelsteinPSU4,82145,221
Kyle HendersonRSU2,88327,043
David EdelsteinRSU5,00046,900
Kyle HendersonRSU7006,566
05

Incentive-plan design — the Compensation Discussion & Analysis

In general, our executive compensation policies are designed to establish an appropriate relationship between executive pay and our performance. In particular, our executive compensation program is intended to: attract and retain key executives who are vital to our long-term success; provide levels of compensation competitive with our peers and commensurate with our performance; compensate executives in ways that inspire and motivate them; and properly align risk-taking and compensation.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-195,480,183583,739410,46890.37%Passed
20252025-05-204,542,6161,138,7291,018,55979.96%Passed
20242024-05-305,716,951737,782374,72988.57%Passed
20232023-05-236,078,366726,059309,19789.33%Passed
20222022-05-247,254,570434,923376,35294.34%Passed
20212021-05-257,109,805264,549364,37696.41%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1990.37%a
20252025-05-2079.96%b
20242024-05-3088.57%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes do not constitute votes cast and therefore will have no effect on the outcome of the proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes do not constitute votes cast and therefore will have no effect on the outcome of the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes do not constitute votes cast and therefore will have no effect on the outcome of the proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Cindy H. FinnieIndependent · Audit · Compensation · Nominating/Governance · Executive$91,900$23,255$0$0$413$115,568
Johanna A. BarteeIndependent · Compensation · Nominating/Governance · Newly elected38,61073,255000111,865
Sean P. BrennanIndependent · Audit · Compensation · Nominating/Governance · Executive67,67123,255001,14692,072
Sherilyn G. AndersonIndependent · Audit · Compensation (Chair) · Executive68,32423,2550041391,992
Norman J. Tonina, JrIndependent · Executive · Not standing for re-election · Departed during FY63,23523,2550056987,059
Gabriel S. GalandaIndependent · Nominating/Governance54,32423,2550041377,992
Lynn A. TerwoerdsIndependent · Audit (Chair)49,30423,2550094073,499
Dana D. BeharIndependent · Audit47,24423,2550041370,912
Diane C. DavisIndependent · Nominating/Governance (Chair) · Partial-year service · Newly elected21,06049,71700070,777
Matthew P. DeinesEmployee director · Not standing for re-election · Departed during FY00000
Curt T. QueyrouzeEmployee director · Partial-year service · Newly elected00000
09

Board fee structure and ownership guideline

Annual cash retainer$36,530
Annual equity retainer$23,158
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guidelinethree times annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$501,672
Equity awards (grant-date value)$285,757
All other compensation$4,307
Total cost of the board$791,736

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1First Northwest Bancorp2025Matthew Deines$310,734$259,013$0$0$1,116,357

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at First Northwest Bancorp in fiscal 2025?
Matthew Deines, who served as Former President and Chief Executive Officer, was the highest-paid executive with total compensation of $1,116,357.
How does First Northwest Bancorp's chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay percentile among disclosed peers was not disclosed in this extract.
What is First Northwest Bancorp's CEO-to-median employee pay ratio?
The filing shows that the CEO-to-median employee pay ratio was not disclosed in this extract.
How did shareholders vote on First Northwest Bancorp's executive compensation?
Shareholders approved the executive compensation plan with 90.37% support in the latest vote.
How much does First Northwest Bancorp spend in total on board compensation for fiscal 2025?
The total board compensation for fiscal 2025 was $791,736.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Matthew DeinesDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 1,116,357. Filing ↗machine: t74 · r8 · c7 · span 377013–377022
2Section 01, Geraldine BullardDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 813,253. Filing ↗machine: t74 · r6 · c7 · span 373344–373351
3Section 01, Curt QueyrouzeDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 631,886. Filing ↗machine: t74 · r1 · c7 · span 363835–363842
4Section 01, Christopher RiffleDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 615,310. Filing ↗machine: t74 · r10 · c7 · span 380719–380726
5Section 01, David EdelsteinDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 500,399. Filing ↗machine: t74 · r2 · c7 · span 366081–366088
6Section 01, Kyle HendersonDEF 14A2026-04-090001437749-26-011851Section “SUMMARY COMPENSATION TABLE” · page 17. As printed: 407,977. Filing ↗machine: t74 · r4 · c7 · span 369642–369649
7Section 03, David Edelstein RSADEF 14A2026-04-090001437749-26-011851Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t84 · r5 · c3 · span 492858–492863
8Section 03, David Edelstein PSADEF 14A2026-04-090001437749-26-011851Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t84 · r5 · c9 · span 493559–493564
9Section 03, Kyle Henderson PSADEF 14A2026-04-090001437749-26-011851Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t84 · r8 · c9 · span 499128–499133
10Section 03, Geraldine Bullard RSADEF 14A2026-04-090001437749-26-011851Section “BENEFICIAL OWNERSHIP BY DIRECTORS AND NAMED EXECUTIVE OFFICERS” · grants of plan-based awards table. Filing ↗machine: t28 · r0 · c2 · span 160327–160332
11Section 03, Kyle Henderson RSADEF 14A2026-04-090001437749-26-011851Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t84 · r8 · c3 · span 498427–498432
12Section 03, Curt Queyrouze RSADEF 14A2026-04-090001437749-26-011851Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t84 · r2 · c3 · span 487156–487162
13Section 07, pay ratio10-K2026-03-120001437749-26-008021Section “CEO Pay Ratio”. As printed: —. Filing ↗
14Section 08, Cindy H. FinnieDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 115,568. Filing ↗machine: t54 · r6 · c15 · span 311357–311364
15Section 08, Johanna A. BarteeDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 111,865. Filing ↗machine: t54 · r2 · c15 · span 298935–298942
16Section 08, Sean P. BrennanDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 92,072. Filing ↗machine: t54 · r4 · c15 · span 305148–305154
17Section 08, Sherilyn G. AndersonDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 91,992. Filing ↗machine: t54 · r1 · c15 · span 295829–295835
18Section 08, Norman J. Tonina, JrDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 87,059. Filing ↗machine: t54 · r9 · c15 · span 320744–320750
19Section 08, Gabriel S. GalandaDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 77,992. Filing ↗machine: t54 · r7 · c15 · span 314467–314473
20Section 08, Lynn A. TerwoerdsDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 73,499. Filing ↗machine: t54 · r8 · c15 · span 317575–317581
21Section 08, Dana D. BeharDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 70,912. Filing ↗machine: t54 · r3 · c15 · span 302040–302046
22Section 08, Diane C. DavisDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 70,777. Filing ↗machine: t54 · r5 · c15 · span 308251–308257
23Section 08, Matthew P. DeinesDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 0. Filing ↗
24Section 08, Curt T. QueyrouzeDEF 14A2026-04-090001437749-26-011851Section “Director Compensation”. As printed: 0. Filing ↗
25Section 02, Phyllis Rose Nomura 2026-05-07Form 42026-05-080001437749-26-015965Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Jennifer Ellen Gribble 2026-05-07Form 42026-07-090001437749-26-023171Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, David Edelstein 2026-05-07Form 42026-05-110001437749-26-016069Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Sean P. Brennan 2026-05-13Form 42026-05-140001437749-26-017024Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, John Christopher Walsh 2026-07-07Form 42026-07-090001437749-26-023167Insider equity transaction reported since the proxy statement. Filing ↗
30Section 06, 2026 voteForm 8-K2026-05-220001437749-26-018147Item 5.07 · say-on-pay result. As reported: 90.37% (votes for as printed: 5,480,183.31). Filing ↗
31Section 06, 2025 voteForm 8-K2025-05-230001437749-25-018193Item 5.07 · say-on-pay result. As reported: 79.96% (votes for as printed: 4,542,616.61). Filing ↗
32Section 06, 2024 voteForm 8-K2024-06-030001437749-24-018991Item 5.07 · say-on-pay result. As reported: 88.57% (votes for as printed: 5,716,951.00). Filing ↗
33Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
34Section 09b board cost (computed)ComputedcomputedCash 501,672 + equity 285,757 + all other 4,307 = 791,736, summed across the director compensation table rows.machine: formula: Σ = 791,736
35First Northwest Bancorp (subject), Section 10b CEO totalDEF 14A2026-04-090001437749-26-011851CEO total compensation as printed in First Northwest Bancorp's own proxy. As printed: 1,116,357. Filing ↗machine: t74 · r8 · c7 · span 377013–377022