First Northwest shareholders approve 300K-share equity plan expansion but reject charter reform

Filed May 22, 2026 · Period ending May 19, 2026 · ~1 min read

Key Changes

• high

  Charter amendment to remove supermajority voting provisions failed despite 98.85% support of votes cast; required 80% of outstanding shares but received only 67.37% due to broker non-votes and non-participation.

  Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR →
• high

  Shareholders approved 300,000-share increase to equity incentive plan (57.7% expansion to 820,000 total shares) with 90.38% support, diluting existing holders as awards are granted.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• low

  Non-employee director compensation cap raised from $150,000 to $175,000 annually (16.7% increase) under amended equity plan.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →