First Foundation Inc. Appoints New Director, Reports Officer Compensation
Ticker: FFWM · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1413837
Sentiment: neutral
Topics: corporate-governance, director-change, officer-compensation
TL;DR
Board shakeup at First Foundation: Scott Wade out, David Dechman in. Officer pay details also disclosed.
AI Summary
First Foundation Inc. announced on November 21, 2024, the departure of Director Scott R. Wade and the election of new Director David L. Dechman. The company also disclosed compensatory arrangements for certain officers. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and disclosures, with no immediate financial distress or significant operational risks indicated.
Key Players & Entities
- First Foundation Inc. (company) — Registrant
- Scott R. Wade (person) — Departing Director
- David L. Dechman (person) — Newly Elected Director
- November 21, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as a new director to the board of First Foundation Inc.?
David L. Dechman has been elected as a new director to the board of First Foundation Inc.
Who has departed from the board of directors at First Foundation Inc.?
Scott R. Wade has departed from the board of directors at First Foundation Inc.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on November 21, 2024.
What specific items are being reported under the 'ITEM INFORMATION' section of this 8-K?
The filing reports on the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Regulation FD Disclosure; and Financial Statements and Exhibits.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 1,087 words · 4 min read · ~4 pages · Grade level 11.1 · Accepted 2024-11-22 07:00:18
Key Financial Figures
- $1,090,000 — r will receive an annual base salary of $1,090,000, subject to annual review, and be eligi
Filing Documents
- tm2429177d1_8k.htm (8-K) — 34KB
- tm2429177d1_ex99-1.htm (EX-99.1) — 16KB
- tm2429177d1_8kimg001.jpg (GRAPHIC) — 9KB
- 0001104659-24-121820.txt ( ) — 240KB
- ffwm-20241121.xsd (EX-101.SCH) — 3KB
- ffwm-20241121_lab.xml (EX-101.LAB) — 33KB
- ffwm-20241121_pre.xml (EX-101.PRE) — 22KB
- tm2429177d1_8k_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On November 22, 2024, the Company issued a press release announcing the appointment of Mr. Shafer as Chief Executive Officer and Mr. Kavanaugh's retirement. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. -2-
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Form of Officer and Director Indemnification Agreement (incorporated by reference to Exhibit 10.99 to the Company's Current Report on Form 8-K filed on October 30, 2015). 99.1 Press Release, dated November 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) -3-
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRST FOUNDATION INC. Date: November 22, 2024 By: /s/ JAMES BRITTON James Britton Executive Vice President and Chief Financial Officer -4-