Form 4: Director Mackovak Reports First Foundation Merger Share Conversion

Benjamin Mackovak, a director and 10% owner of First Foundation Inc., reported the disposition of shares and conversion of restricted stock units due to the merger with FirstSun Capital Bancorp.

Summary

• Benjamin Mackovak, a director and 10% owner of First Foundation Inc. (FFWM), reported changes in beneficial ownership on April 1, 2026.
• The changes occurred due to the Agreement and Plan of Merger, dated October 27, 2025, between First Foundation Inc. and FirstSun Capital Bancorp.
• Under the merger terms, each share of First Foundation common stock converted into the right to receive 0.16083 shares of FirstSun common stock, with cash paid for fractional shares.
• Mackovak directly disposed of 13,308 shares of First Foundation common stock.
• An additional 6,768,343 shares of First Foundation common stock, indirectly owned by Strategic Value Investors LP, were also disposed of.
• Restricted stock units (RSUs) for 13,308 shares of First Foundation common stock were assumed by FirstSun and converted into FirstSun RSUs based on the same exchange ratio.
• Following the merger, Mackovak no longer beneficially owns, directly or indirectly, any shares of First Foundation Inc.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, as it confirms the completion of a previously announced merger, which typically aims to create value for shareholders of the combined entity. The transaction itself is procedural.

Future Outlook

The merger between First Foundation Inc. and FirstSun Capital Bancorp has been completed, resulting in First Foundation shareholders receiving FirstSun common stock based on the specified exchange ratio. Restricted stock units were also converted into FirstSun RSUs.

Industry Context

StockSavvy.ai notes that mergers and acquisitions are common in the financial services sector, often driven by desires for increased scale, market share, or operational efficiencies. This specific merger indicates consolidation within the banking industry, potentially leading to a larger, more competitive entity in FirstSun Capital Bancorp.

Stakeholder Impact

• Shareholders of First Foundation Inc. have become shareholders of FirstSun Capital Bancorp, impacting their investment portfolio.
• Employees of First Foundation Inc. are now part of the combined FirstSun Capital Bancorp entity, potentially affecting their roles and benefits.

Next Steps

• FirstSun Capital Bancorp will now integrate First Foundation Inc. operations and assets.
• Former First Foundation shareholders will hold shares in FirstSun Capital Bancorp.

Key Dates

Keywords

First Foundation Inc., FFWM, FirstSun Capital Bancorp, Merger, Form 4, Beneficial Ownership, Director Transaction, Stock Conversion, Restricted Stock Units, Strategic Value Investors LP