FirstSun closes acquisition of First Foundation; exchange ratio 0.16083

FIRSTSUN CAPITAL BANCORP

Merger effective April 1, 2026; First Foundation common stock converted at 0.16083x FirstSun shares.
FirstSun assumed $150M 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032.
Board expanded to 13; added 5 former First Foundation directors plus Castle Creek nominee Spencer T. Cohn.
Charter amended: authorized common increased to 80M shares; new non-voting class of 20M shares created.
Thomas C. Shafer appointed Executive Vice Chairman with $1.09M base salary; warrant holders get ~$17.5M cash.

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