Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 40

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 40
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 fiscal years 2024, 2023, and 2022 was 0.6%. During these three years, we restructured our management team, completed the July 2024 Capital Raise, reconstituted our Board and initiated a balance sheet transformation, all of which we believe will strengthen the Company. As of March 31, 2025 and prior to the adoption of the Amended 2024 Plan, there were 111,952 shares remaining for issuance. The 2,500,000 increase in share allocation to the Amended Plan is intended to manage our equity grant requirements for approximately the next three to five years. We consider a minimum three to five-year pool of shares to be important from a compensation planning perspective, in general, but especially given the significant change underway. The Board feels it is important to have adequate shares available to appropriately compensate current and future employees. If the Amended 2024 Plan is not approved, it could be detrimental to our goals of attracting, retaining and motivating our key service providers and aligning their interests with the interests of our stockholders. In that instance, we would then need to review and revise our compensation practices to be more cash-based in order to retain such key personnel. If we adopted alternative compensation programs that were more cash-based, we believe that the level of cash compensation required to offset the lack of availability of equity grants could result in (i) an increase in our overall compensation expense, which would be detrimental to our future operating results and (ii) a decrease in our cash flow, which would reduce cash available to be invested in operations and growth and/or returned to stockholders. On March 31, 2025, the closing price of a share of our common stock on the New York Stock Exchange was $5.19 and there were 82,386,071 shares of our common stock outstanding. If the Amended 2024 Plan is approved by our stockholders at the Annual Meeting, it will become effective on the date of the Annual Meeting. If the Amended 2024 Plan is not approved by our stockholders, then the 2024 Plan will remain in effect as it presently exists. 24

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If our stockholders approve this proposal, we intend to file, pursuant to the Securities Act of 1933, a registration statement on Form S-8 to register the additional shares for issuance pursuant to the terms of the Amended 2024 Plan. A conformed copy of the Amended 2024