---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-121820"
form_type: "8-K"
ticker: null
cik: "0001413837"
company_name: "First Foundation Inc."
filed_at: "2024-11-22T23:59:59+00:00"
generated_at: "2026-05-29T19:39:32.825510+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-121820
- form_type: 8-K
- cik: 0001413837
- company_name: First Foundation Inc.
- filed_at: 2024-11-22T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/tm2429177d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-121820
- JSON: https://secwatch.observer/filing/0001104659-24-121820.json
- Plain text: https://secwatch.observer/filing/0001104659-24-121820.txt

## Key facts
- Executive change
  Scott F. Kavanaugh retired as Director at First Foundation Inc..
  - Action: retired
  - Role: Director
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm
- Executive change
  Thomas C. Shafer was appointed as Director at First Foundation Inc..
  - Action: appointed
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm
- Executive change
  Thomas C. Shafer was appointed as Chief Executive Officer at First Foundation Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm
- Executive change
  Scott F. Kavanaugh retired as Chief Executive Officer at First Foundation Inc..
  - Action: retired
  - Role: Chief Executive Officer
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.