Richard P. Jacobson - Apr 10, 2025 Form 4 Insider Report for First Financial Northwest, Inc. (FFNW)

Role: Executive VP and CFO, Director
Signature: /s/Karla Evans as Power of Attorney for Richard P. Jacobson
Stock symbol: FFNW
Transactions as of: Apr 10, 2025
Transactions value $: $0
Form type: 4
Date filed: 4/11/2025, 10:17 AM
Previous filing: Mar 7, 2025
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FFNW	Stock Option (Right to Buy)	Disposed to Issuer	$0	-30K	-100%	$0.00	0	Apr 10, 2025	Common Stock	30K	$12.06	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the remaining stock options outstanding from an original grant of 40,000 non-qualified stock options scheduled to vest in equal installments of 25% per year beginning on August 4, 2024, and ending on August 4, 2027. In accordance with the terms of the 2016 Equity Incentive Plan and applicable award agreement, the stock options became fully vested and exercisable immediately prior to the effective time of the asset sale contemplated by the Purchase and Assumption Agreement, dated as of January 10, 2024, by and among First Financial Northwest, Inc. (the "Company"), First Financial Northwest Bank and Global Federal Credit Union. At its meeting on March 26, 2025, the Board of Directors of the Company authorized that each outstanding stock option be cancelled in exchange for a cash payment to the reporting person of $330,000, equal to $23.06 per share minus the applicable exercise price per share.

Content

Represents the remaining stock options outstanding from an original grant of 40,000 non-qualified stock options scheduled to vest in equal installments of 25% per year beginning on August 4, 2024, and ending on August 4, 2027. In accordance with the terms of the 2016 Equity Incentive Plan and applicable award agreement, the stock options became fully vested and exercisable immediately prior to the effective time of the asset sale contemplated by the Purchase and Assumption Agreement, dated as of January 10, 2024, by and among First Financial Northwest, Inc. (the "Company"), First Financial Northwest Bank and Global Federal Credit Union. At its meeting on March 26, 2025, the Board of Directors of the Company authorized that each outstanding stock option be cancelled in exchange for a cash payment to the reporting person of $330,000, equal to $23.06 per share minus the applicable exercise price per share.