secwatch.observer — SEC 8-K summary
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Issuer:     First Western Financial Inc (MYFW)
CIK:        0001327607
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001327607-23-000047
Event type: other
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Amended employment agreements for CEO, CFO, CIO; updated severance multiples and equity vesting
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- Scott Wylie (Chairman/CEO) severance: 2x Base Amount (non-CIC) or 2.99x (CIC), plus pro-rata equity vesting.
- Julie Courkamp (CFO/COO/Treasurer) and John Sawyer (CIO) similar amendments to align cash/equity severance to market.
- 2016 Omnibus Incentive Plan amended to allow continued vesting of awards upon retirement (age 65 + 10 years service).
- All amendments effective April 26, 2023, based on Alvarez & Marsal competitive market data.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1327607/000132760723000047/0001327607-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1327607/000132760723000047/myfw-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001327607-23-000047

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