Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 86

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 86
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 principal place of employment to an office (other than our headquarters offices) located more than thirty (30) miles from his or hers then principal place of employment; or • a breach of our material obligations to the NEO under the employment agreement which breach continues uncured for a period of thirty (30) days following written notice from the NEO. The following conditions must be satisfied in order for the NEO to terminate his or her employment for Good Reason: (1) the NEO shall have given us a written notice of termination for Good Reason (a “Good Reason Termination Notice”) prior to the expiration of a period of fifteen (15) consecutive calendar 53 TABLE OF CONTENTS days commencing on the date that the NEO is first notified in writing that we have taken a Good Reason action, (2) we have failed to rescind or cure the Good Reason action within thirty (30) consecutive calendar days following our receipt of the Good Reason Termination Notice, and (3) the Good Reason Termination Notice must expressly state that the NEO is terminating his or her employment for Good Reason and must describe in reasonable detail the Good Reason action that entitles him to terminate his or her employment for Good Reason. Ulrich Keller Employment Prior to his resignation from his position as Executive Chairman in 2024, Mr. Keller was paid pursuant to an employment agreement substantially similar to the executive employment agreements described above. Mr. Keller’s agreement provided for a base annual salary of $600,000. In connection with a change in his responsibilities with the Company, Mr. Keller’s annual base salary became tied to certain projected assets under management at FFA. Following this change, Mr. Keller’s annual base salary was changed to $1,200,000. Mr. Keller also receives such other compensation as is generally applicable to other similarly situated employees of FFA. Compensation Risk Assessment The Compensation Committee has conducted an annual compensation risk assessment and concluded that the Company’s compensation policies and practices do not encourage excessive or unnecessary risk- taking and are not reasonably likely to have a material adverse effect on the Company. The Compensation Committee took into account the significant proportion of the annual compensation that is based on equity incentives that have long maturities and vesting periods, and the Company’s Clawback Policy and other corporate policies that align the NEO’s and other executive officers’ compensation with the interests of the Company’s stockholders. Pay Ratio Disclosure Set forth below is the annual total compensation of our median employee, the annualized total compensation of our CEO, Mr. Shafer, and the ratio