8-K
filed July 9, 2024, 7:59 PM ET
CIK 0001413837
other material
confidence high
sentiment neutral
materiality 0.75
First Foundation raises $228M from Fortress, Canyon, SVBP; new bank president and board appointed
First Foundation Inc.
- Raised ~$228M via common stock, convertible preferred stock (Series A/B/C), and net-settled warrants.
- Appointed Simone Lagomarsino as President of First Foundation Bank; $800K salary, $1.28M bonus target.
- Directors Ulrich Keller resigned; four others (Hakopian, Lake, Rubin, Vazquez) gave notice of resignation pending regulatory approval.
- Sam Edelson, Henchy Enden, Benjamin Mackovak appointed to bank board; to join company board pending regulatory nod.
- Preferred stock carries 13% non-cumulative dividend until stockholder vote on share authorization and issuance.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
John A. Hakopian resigned as Director at First Foundation Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
directors John A. Hakopian, David G. Lake, Diane M. Rubin, CPA, and Gabriel V. Vazquez (i) gave notice of their intent to resign from the Company Board, subject to the acceptance of such resignations by the Company, which is anticipated to occur concurrently with the appointment of their successors following receipt of all necessary regulatory approvals, and (ii) resigned from the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sam Edelson was appointed as Director at First Foundation Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Sam Edelson, Henchy R. Enden, Simone Lagomarsino, and Benjamin Mackovak (the “New Directors”) were appointed to the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Benjamin Mackovak was appointed as Director at First Foundation Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Sam Edelson, Henchy R. Enden, Simone Lagomarsino, and Benjamin Mackovak (the “New Directors”) were appointed to the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ulrich E. Keller, Jr. resigned as Director at First Foundation Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
director Ulrich E. Keller, Jr. resigned from the Board of Directors of the Company (the “Company Board”) and the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Simone Lagomarsino was appointed as Director at First Foundation Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Sam Edelson, Henchy R. Enden, Simone Lagomarsino, and Benjamin Mackovak (the “New Directors”) were appointed to the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gabriel V. Vazquez resigned as Director at First Foundation Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
directors John A. Hakopian, David G. Lake, Diane M. Rubin, CPA, and Gabriel V. Vazquez (i) gave notice of their intent to resign from the Company Board, subject to the acceptance of such resignations by the Company, which is anticipated to occur concurrently with the appointment of their successors following receipt of all necessary regulatory approvals, and (ii) resigned from the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David G. Lake resigned as Director at First Foundation Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
directors John A. Hakopian, David G. Lake, Diane M. Rubin, CPA, and Gabriel V. Vazquez (i) gave notice of their intent to resign from the Company Board, subject to the acceptance of such resignations by the Company, which is anticipated to occur concurrently with the appointment of their successors following receipt of all necessary regulatory approvals, and (ii) resigned from the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Henchy R. Enden was appointed as Director at First Foundation Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Sam Edelson, Henchy R. Enden, Simone Lagomarsino, and Benjamin Mackovak (the “New Directors”) were appointed to the Bank Board, effective as of July 8, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Simone Lagomarsino was appointed as President at First Foundation Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
On July 8, 2024, the Company appointed Simone Lagomarsino as President of First Foundation Bank, a California state-chartered bank and wholly-owned bank subsidiary of the Company (the “Bank”), effective immediately following completion of the Investment.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Diane M. Rubin resigned as Director at First Foundation Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
directors John A. Hakopian, David G. Lake, Diane M. Rubin, CPA, and Gabriel V. Vazquez (i) gave notice of their intent to resign from the Company Board, subject to the acceptance of such resignations by the Company, which is anticipated to occur concurrently with the appointment of their successors following receipt of all necessary regulatory approvals, and (ii) resigned from the Bank Board, effective as of July 8, 2024.
View on SEC.gov
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