Form 4: CEO Shafer Disposes FFWM Shares Post-Merger

First Foundation CEO Thomas C. Shafer reported the disposition of 500,000 shares of First Foundation common stock following the merger with FirstSun Capital Bancorp.

Summary

• Thomas C. Shafer, Chief Executive Officer and Director of First Foundation Inc. (FFWM), reported a change in beneficial ownership.
• Shafer disposed of 500,000 shares of First Foundation common stock on April 1, 2026, with a transaction price of $0.00 per share.
• This disposition occurred pursuant to the Agreement and Plan of Merger, dated October 27, 2025, between First Foundation Inc. and FirstSun Capital Bancorp.
• At the effective time of the merger, each share of First Foundation common stock converted into the right to receive 0.16083 shares of FirstSun common stock, with cash paid in lieu of fractional shares.
• The 500,000 shares disposed of included restricted stock units (RSUs) related to First Foundation common stock.
• These restricted stock units were assumed by FirstSun and converted into restricted stock units for FirstSun common stock, based on the same exchange ratio.
• Following the merger, Shafer no longer beneficially owns, directly or indirectly, any shares of First Foundation Inc. common stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as positive, reflecting the successful completion of a strategic merger which typically aims to create value for shareholders of both entities. The reporting person's continued equity interest in the combined entity through converted RSUs is also a positive sign.

Positives

• The completion of the merger with FirstSun Capital Bancorp indicates a successful strategic transaction for First Foundation Inc.
• The conversion of First Foundation shares and restricted stock units into FirstSun shares and restricted stock units provides continued equity interest for the reporting person in the combined entity.

Negatives

• The reporting person no longer holds direct beneficial ownership in First Foundation Inc. common stock, as the company has merged and ceased to exist as a standalone entity.

Risks

• NA

Future Outlook

The filing indicates the successful completion of a merger, implying a future under the combined entity, FirstSun Capital Bancorp, for the former First Foundation shareholders and executives.

Management Comments

• NA

Industry Context

StockSavvy.ai notes that this merger signifies consolidation within the financial services sector, a common trend as institutions seek scale, efficiency, and expanded market reach. The integration of First Foundation into FirstSun Capital Bancorp suggests a strategic move to enhance competitive positioning.

Comparison to Industry Standards

• NA

Management Changes

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders (First Foundation): Their shares were converted into FirstSun Capital Bancorp shares, changing their investment vehicle.
• Employees (First Foundation): The merger likely impacts employment, roles, and compensation structures, including the conversion of restricted stock units for executives like Mr. Shafer.

Next Steps

• Integration of First Foundation Inc. operations and assets into FirstSun Capital Bancorp.
• Ongoing management of converted FirstSun common stock and restricted stock units by Thomas C. Shafer.

Key Dates

Recommendation

The filing reports the completion of a merger where First Foundation Inc. shares were converted into FirstSun Capital Bancorp shares. For investors who held First Foundation Inc. stock, their position has automatically converted, so a 'hold' recommendation applies to their new FirstSun Capital Bancorp shares, pending further analysis of the combined entity. For those considering investing, the opportunity to invest in First Foundation Inc. no longer exists.

Keywords

First Foundation Inc., FFWM, FirstSun Capital Bancorp, Merger, Thomas C. Shafer, SEC Form 4, Beneficial Ownership, Restricted Stock Units, Corporate Action, CEO, Director