Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 80

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 80
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 not receive any fees or other compensation for their service as directors. (2) No annual cash incentive bonus award was earned with respect to 2023 and 2024. In 2022, each of our incumbent NEOs received 100% of their target incentive compensation awards. A portion of each incentive compensation award with respect to 2022 was paid in RSUs (as further described below), with the remainder paid in cash. (3) For 2024, amounts listed in this column (other than for Mr. Shafer) represent the value of retention RSUs granted under the 2024 incentive plan. On October 23, 2024, Mr. Kavanaugh received 57,047 RSUs, Mr. Britton received 31,410 RSUs, Mr. Hakopian received 52,349 RSUs and Mr. Naghibi received 36,242 RSUs. Our closing price per share on October 23, 2024 was $7.45, which represents the amount of such retention awards payable in RSUs. For 2023, amounts listed in this column (other than for Mr. Britton) represents the value of RSUs which would have been delivered to the applicable Named Executive Officer if the annual incentive bonus for 2023 was earned at target (which also represents the maximum amount which may be earned), in each case, measured as of the date the annual incentive bonus targets for the applicable year were set by the Compensation Committee. Because the Company did not meet its annual incentive award financial goals for 2023, no RSUs were earned with respect to 2023. For 2022 performance under the 2022 annual incentive plan, on February 28, 2023, Mr. Kavanaugh received 34,390 RSUs, Mr. Hakopian received 1,956 RSUs, Mr. Naghibi received 4,181 RSUs, and Mr. Keller received 2,563 RSUs. Our closing price per share on February 28, 2023 was $14.83, which represents the target amount of such annual 50

TABLE OF CONTENTS incentive awards payable in RSUs (which also represents the maximum amount which may be granted in RSU awards under the annual incentive plan). Each RSU, upon vesting, enables its holder to receive one of our common shares. One-third of these awards of RSUs vested immediately upon their issuance date and one-third vests incrementally on each of the first and second anniversaries of