UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 18, 2024, the Board of Directors of First Foundation Inc. (the “Company”) approved and adopted, upon the recommendation of its Compensation Committee, the First Foundation Inc. Retention Bonus Plan (the “Bonus Plan”). Under the Bonus Plan, retention awards may be granted to certain key employees of the Company, including the Company’s named executive officers, as determined by the Compensation Committee from time to time. The retention awards will entitle a participant in the Bonus Plan to receive a one-time lump sum cash award of up to 50% of their base salary so long as they are employed by the Company at the time of vesting of such award. The vesting period will be no less than one month and no greater than nine months after the grant date of the retention award under the Bonus Plan.
The foregoing description is subject to and qualified by reference to the full text of the Bonus Plan and Participation Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit |
Description | |
| 10.1 | First Foundation Inc. Retention Bonus Plan and Form Participation Agreement | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FIRST FOUNDATION INC. | ||||||
| Date: October 21, 2024 | By: | /s/ SCOTT F. KAVANAUGH | ||||
| Scott F. Kavanaugh | ||||||
| Chief Executive Officer | ||||||
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