First Northwest Bancorp (FNWB) Proxy filing summary

Executive summary

• The annual meeting is scheduled for May 19, 2026, with shareholders voting on key proposals including director elections, amendments to the Articles of Incorporation, an updated equity incentive plan, executive compensation, and auditor ratification.

• The company has focused on operational efficiency, core earnings, and data-driven decision-making following a significant transition in the prior year.

Voting matters and shareholder proposals

• Shareholders will vote on electing nine directors for one-year terms.

• Proposal 2 seeks to amend the Articles of Incorporation to remove supermajority voting requirements and allow director removal with or without cause by a majority vote.

• Proposal 3 requests approval of an amended 2020 Equity Incentive Plan, increasing available shares and updating governance provisions.

• Proposal 4 is an advisory vote on executive compensation (say-on-pay).

• Proposal 5 is for ratification of Baker Tilly US, LLP as the independent auditor for 2026.

Board of directors and corporate governance

• The board consists of nine members, eight of whom are independent; only the CEO is not independent.

• Committees include Audit, Compensation, Nominating and Corporate Governance, and Executive; all committee members are independent.

• The board emphasizes diversity, expertise, and regular self-evaluation, with annual performance reviews and continuing education.

• The company maintains a Code of Ethics and Corporate Governance Policy, reviewed annually.