secwatch.observer — SEC 8-K summary
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Issuer:     First Foundation Inc. (—)
CIK:        0001413837
Form:       8-K
Filed at:   2024-11-22T23:59:59+00:00
Accession:  0001104659-24-121820
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/0001104659-24-121820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413837/000110465924121820/tm2429177d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-121820

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