8-K filed November 22, 2024, 6:59 PM ET CIK 0001413837

leadership confidence high sentiment neutral materiality 0.60

CEO Scott Kavanaugh retires; Thomas C. Shafer appointed CEO effective Nov 21

First Foundation Inc.

Scott Kavanaugh retired as CEO and director of First Foundation Inc. and First Foundation Bank effective Nov 21, 2024, after 17 years.
Thomas C. Shafer, former TCF Financial CEO (49.5B assets), appointed CEO and to both boards, effective immediately.
Shafer receives $1.09M base salary, annual bonus up to 1.5x base, and 500,000 RSUs vesting over 2-3 years.
Kavanaugh's retirement is not due to any disagreement with the company's operations or policies.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Scott F. Kavanaugh

Director

First Foundation Inc.

Effective: 2024-11-21
Successor: Thomas C. Shafer
Filed: November 22, 2024, 6:59 PM ET

On November 21, 2024, Scott F. Kavanaugh, the Chief Executive Officer and a member of the Board of Directors of First Foundation Inc. (the “Company”) and its wholly-owned bank subsidiary, First Foundation Bank (the “Bank”), announced that he will retire from his positions

Appointed

Thomas C. Shafer

Director

First Foundation Inc.

Effective: 2024-11-21
Filed: November 22, 2024, 6:59 PM ET

On November 21, 2024, Thomas C. Shafer was appointed as Chief Executive Officer of the Company and the Bank and to the Boards of Directors of the Company and the Bank, effective immediately.

Appointed

Thomas C. Shafer

Chief Executive Officer

First Foundation Inc.

Effective: 2024-11-21
Filed: November 22, 2024, 6:59 PM ET

On November 21, 2024, Thomas C. Shafer was appointed as Chief Executive Officer of the Company and the Bank and to the Boards of Directors of the Company and the Bank, effective immediately.

Departed

Scott F. Kavanaugh

Chief Executive Officer

First Foundation Inc.

Effective: 2024-11-21
Successor: Thomas C. Shafer
Filed: November 22, 2024, 6:59 PM ET

On November 21, 2024, Scott F. Kavanaugh, the Chief Executive Officer and a member of the Board of Directors of First Foundation Inc. (the “Company”) and its wholly-owned bank subsidiary, First Foundation Bank (the “Bank”), announced that he will retire from his positions

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott F. Kavanaugh retired as Director at First Foundation Inc..

Action: retired
Role: Director

Exact text from the filing

On November 21, 2024, Scott F. Kavanaugh, the Chief Executive Officer and a member of the Board of Directors of First Foundation Inc. (the “Company”) and its wholly-owned bank subsidiary, First Foundation Bank (the “Bank”), announced that he will retire from his positions

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas C. Shafer was appointed as Director at First Foundation Inc..

Action: appointed
Role: Director

Exact text from the filing

On November 21, 2024, Thomas C. Shafer was appointed as Chief Executive Officer of the Company and the Bank and to the Boards of Directors of the Company and the Bank, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas C. Shafer was appointed as Chief Executive Officer at First Foundation Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On November 21, 2024, Thomas C. Shafer was appointed as Chief Executive Officer of the Company and the Bank and to the Boards of Directors of the Company and the Bank, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott F. Kavanaugh retired as Chief Executive Officer at First Foundation Inc..

Action: retired
Role: Chief Executive Officer

Exact text from the filing

On November 21, 2024, Scott F. Kavanaugh, the Chief Executive Officer and a member of the Board of Directors of First Foundation Inc. (the “Company”) and its wholly-owned bank subsidiary, First Foundation Bank (the “Bank”), announced that he will retire from his positions

View on SEC.gov

Source: SEC EDGAR

accession 0001104659-24-121820

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