MACKOVAK BENJAMIN 4

What Happened

• Benjamin Mackovak, a director of FirstSun Capital Bancorp (FSUN), was credited with two merger-related awards on 2026-04-01: 2,140 shares and 1,151,160 shares of FirstSun common stock (total 1,153,300 shares). These were not open-market purchases but shares received in connection with the merger and RSU conversions. Using FirstSun’s last close of $36.46, the shares are roughly valued at ~$42.05 million (approximate).

Key Details

• Transaction date: 2026-04-01; Form filed: 2026-04-02 (filed the day after the transaction, within normal Section 16 reporting windows).
• Transaction type: A (grant/award/acquisition via merger conversion), prices reported as N/A (shares issued in exchange/conversion).
• Shares received: 2,140 (from converted RSUs) + 1,151,160 (from converted First Foundation shares/Series C equivalents) = 1,153,300 total.
• Conversion ratio: each First Foundation share converted into 0.16083 shares of FirstSun common stock; cash was paid in lieu of fractional shares per the merger terms.
• Footnotes: F1 = RSUs of First Foundation replaced with FirstSun RSUs (13,308 RSUs → 2,140 FSUN shares). F2 = conversion of 6,768,343 First Foundation common shares and Series C equivalents into FSUN shares using the 0.16083 ratio; F3 = some shares are owned by Strategic Value Investors LP, which Mackovak may be deemed to beneficially own solely by his managing-member role (he disclaims ownership except to the extent of pecuniary interest).
• Shares owned after transaction: not specified in the provided filing extract.

Context

• These transactions reflect merger consideration and RSU replacement, not insider buying or selling in the open market. Such conversion awards are corporate-transaction driven and do not necessarily signal a personal trading decision by the insider.