Driver Management Co LLC Sent A Letter To The Board Of Directors Of First Foundation Inc.
$FFWM
Mr. Scott Kavanaugh
Chief Executive Officer
First Foundation Inc.
200 Crescent Court, Suite 1400
Dallas, TX 75201
Via email
Scott,
I am writing to confirm the substance of our very brief phone conversation today, specifically that you, on behalf of First Foundation Inc. (“FFWM”), do not want to have any discussion whatsoever regarding any potential settlement that would preclude a contested election of directors at FFWM’s 2023 annual meeting of directors.
I can only assume that you believe that FFWM stockholders have faith in FFWM’s management and board of directors, despite FFWM’s one, three and five year total stockholder returns of -40%, -5.71% and -15.47% as compared to -12.55%, 10.03% and 12.07% for the S&P United States BMI Banks Index.1
Candidly, I admire your confidence, even if it is misplaced. If you change your mind, you know how to reach me.
Driver Management Company LLC /s/ J. Abbott R. Cooper
1 Periods ended January 30, 2023. Source: S&P Capital IQ.
Source:
https://www.sec.gov/Archives/edgar/data/1413837/000092189523000227/dfan14a12447008_01312023.htm