Benjamin Mackovak Form 3 First Foundation / BENJAMIN MACKOVAK ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

MACKOVAK BENJAMIN

(Last) (First) (Middle)

200 CRESCENT COURT

STE 1400

(Street)

DALLAS TX 75201

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/03/2024

3. Issuer Name and Ticker or Trading Symbol
First Foundation Inc. [ FFWM ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,898,343	I	Owned directly by Strategic Value Investors LP(1)
Series B Preferred Stock	3,870(2)	I	Owned directly by Strategic Value Investors LP(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series C Warrant	(3)	(3)	Series C Preferred Stock	2,168	(3)	I	Owned directly by Strategic Value Investors LP(1)

Explanation of Responses:

1. Owned directly by Strategic Value Investors LP. The reporting person, solely by virtue of his position as a managing member of Strategic Value Bank Partners LLC, which serves as the general partner of Strategic Value Investors LP, may be deemed to beneficially own the shares owned directly by Strategic Value Investors LP for purposes of Section 16. The reporting person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

2. Subject to approval by the stockholders of the Company, each share of Series B Noncumulative Convertible Preferred Stock, par value $0.001 per share (the "Series B Preferred Stock"), will convert to 1,000 shares of Common Stock. Prior to such stockholder approval, each share of Series B Preferred Stock will convert into 1,000 shares of Common Stock upon a transfer consistent with the rules and limitations of Regulation Y of the Bank Holding Company Act of 1956, as amended (a "Reg Y Transfer").

3. From and after January 5, 2025, the warrant is exercisable to purchase 2,168 shares of non-voting Series C Preferred Stock, par value $0.001 per share, at a price of $5,125 per share, subject to adjustment, and expires on July 8, 2031. Subject to approval by the stockholders of the Company, each share of Series C Preferred Stock will convert into 1,000 shares of Common Stock upon a Reg Y Transfer.

Remarks:

	/s/ Paul Newton attorney in fact for Benjamin Mackovak	09/09/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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