FirstSun appoints Spencer T. Cohn and five former First Foundation directors including Thomas C. Shafer
I'm LongbridgeAI, I can summarize articles.FirstSun has appointed Spencer T. Cohn as a Class I director and five former First Foundation directors, including Thomas C. Shafer as Executive Vice Chairman, effective April 1, 2026. This change is part of a merger-related appointment, with Cohn filling a vacancy and Shafer assuming an Employment Agreement from First Foundation. The appointments include various roles on committees, with Shafer receiving a restricted stock award valued at $250,000, vesting upon the merger's closing.
FirstSun appointed Spencer T. Cohn as a Class I director and added five former First Foundation directors, including Thomas C. Shafer as Executive Vice Chairman, effective at the Merger Effective Time on April 1, 2026.
| Individual | Spencer T. Cohn | Sam Edelson | Henchy R. Enden | Benjamin Mackovak | C. Allen Parker | Thomas C. Shafer | Isabella Cunningham | Diane L. Merdian | Mollie H. Carter |
| Role | Class I Director; member, Compensation and Succession Committee | Director | Director | Director | Director | Director; Executive Vice Chairman | Class I Director (resigned) | Class III Director (resigned) | Executive Chairman |
| Type of Change | Appointed | Appointed | Appointed | Appointed | Appointed | Appointed | Resigned | Resigned | Granted restricted stock award |
| Effective Date | April 1, 2026 | April 1, 2026 | April 1, 2026 | April 1, 2026 | April 1, 2026 | April 1, 2026 | April 1, 2026 | April 1, 2026 | March 31, 2026 (grant); vests at Merger closing |
| Reason | Designation by Castle Creek under Board Representative Letter Agreement | Merger-related appointment (Legacy First Foundation Director) | Merger-related appointment (Legacy First Foundation Director) | Merger-related appointment (Legacy First Foundation Director) | Merger-related appointment (Legacy First Foundation Director) | Merger-related appointment; assumed Employment Agreement from First Foundation | Resignation effective at Merger Effective Time | Resignation effective at Merger Effective Time | In recognition of leadership supporting the Merger |
| Replacement Info | Filled vacancy created by Isabella Cunningham | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not applicable | Replaced by Spencer T. Cohn (Class I seat) | Not disclosed | Not applicable |
| Background Details | Selected by Castle Creek; no other arrangements; not party to Item 404 transactions | Appointed pursuant to Canyon designation | Appointed pursuant to Fortress designation | Legacy First Foundation director | Legacy First Foundation director | Former CEO of First Foundation and First Foundation Bank; Employment Agreement term Feb 11, 2025–Mar 15, 2028; base salary $1,090,000; incentive opportunity up to 150% of base; eligible for benefits; severance provisions described | N/A | N/A | Received restricted stock award with grant date fair value $250,000; vests in full on closing of the Merger |
| Board/Committee Role Changes | Member, Compensation and Succession Committee | Audit; Trust and Fiduciary (bank-level) | Nominating and Governance | Compensation and Succession; Risk | Audit; Risk | Not disclosed for committees here; appointed Executive Vice Chairman | Not disclosed | Not disclosed | Not disclosed |
Original SEC Filing: FIRSTSUN CAPITAL BANCORP [ FSUN ] - 8-K - Apr. 01, 2026