MACKOVAK BENJAMIN 4

What Happened
Benjamin Mackovak, a director of First Foundation Inc. (FFWM), recorded dispositions on April 1, 2026 tied to the company’s merger with FirstSun Capital Bancorp. The Form 4 shows: disposition of 6,768,343 shares and disposition of restricted stock units covering 13,308 shares. The reported price and cash value are $0 because the shares/RSUs were converted under the merger terms rather than sold for cash.

Key Details

• Transaction date: 2026-04-01 (effective time of the merger). Transaction code: D (Disposition to issuer).
• Shares/amounts: 6,768,343 shares disposed; 13,308 restricted stock units disposed/converted.
• Reported price/value: $0 — conversion was pursuant to the Merger Agreement, not an open-market cash sale.
• Merger mechanics: each First Foundation share converted into the right to receive 0.16083 shares of FirstSun common stock; cash was paid in lieu of fractional shares. RSUs were assumed and converted into FirstSun RSUs on the same exchange ratio.
• Shares owned after transaction: The filing states the reporting person no longer beneficially owns any First Foundation common stock.
• Ownership note: 6,768,343 shares were owned directly by Strategic Value Investors LP. Mackovak is a managing member of the general partner and may be deemed to beneficially own those shares for Section 16 purposes but disclaims beneficial ownership except for any pecuniary interest.
• Filing timeliness: Reported on 2026-04-01, matching the transaction date (no late-filing flag indicated).

Context
This disposition is merger-driven rather than a conventional sale. That means the transaction is a corporate reorganization (conversion into FirstSun stock and cash for fractions) and should not be read as a typical insider sell decision. For investors tracking insider activity, merger-related dispositions often reflect deal terms, not personal trading sentiment.