Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 22

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 22
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 Closing, Canyon became entitled to nominate one representative to be elected to the Board and the Bank Board, so long as Canyon and its affiliates beneficially own at least (i) 4.9% of the outstanding shares of common stock (on an as-converted basis) or (ii) 50% of the shares of common stock (on an as-converted basis) that Canyon acquired in the Investment. SVBP invested approximately $22 million, acquiring (1) 1,551,861 shares of common stock at the price of $4.10 per share; (2) 3,870 shares of our Series B Preferred Stock at the price of $4,100 per share and (3) 2,168 Warrants. At the Closing, SVBP became entitled to nominate one representative to be elected to the Board and the Bank Board, so long as SVBP and its affiliates beneficially own at least (i) 4.9% of the 13 TABLE OF CONTENTS outstanding shares of common stock (on an as-converted basis) or (ii) 50% of the shares of common stock (on an as-converted basis) that SVBP acquired in the Investment. A trust affiliated with Ms. Lagomarsino, President and a member of the Board and Bank Board, invested $500,000, acquiring (1) 121,951 shares of our common stock at the price of $4.10 per share; and (2) 48 Warrants. Board Changes In connection with the 2024 Capital Raise, the Company and the Bank each reconstituted its board of directors, as described below: • Director Ulrich E. Keller, Jr. resigned from the Board and the Bank Board, effective as of July 8, 2024. • Directors John A. Hakopian, David G. Lake, Diane M. Rubin, CPA, and Gabriel V. Vazquez resigned from the Bank Board, effective as of July 8, 2024, and resigned from the Board, effective as of September 3, 2024. • Sam Edelson, Henchy R. Enden, Benjamin Mackovak and Simone Lagomarsino were appointed to the Bank Board, effective as of July 8, 2024, and were appointed to the Board, effective as of September 3, 2024. • C. Allen Parker was appointed to the Board and Bank Board, effective as of November 14, 2024. Mr