secwatch.observer — SEC 8-K summary
======================================

Issuer:     First Foundation Inc. (—)
CIK:        0001413837
Form:       8-K
Filed at:   2024-07-09T23:59:59+00:00
Accession:  0001104659-24-078463
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Foundation raises $228M from Fortress, Canyon, SVBP; new bank president and board appointed
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413837/000110465924078463/0001104659-24-078463-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413837/000110465924078463/tm2419008d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-078463

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer