ISS recommends First Foundation shareholders vote for all 10 board nominees

First Foundation announced that Institutional Shareholder Services, a proxy advisory firm, has recommended that First Foundation stockholders vote for all of First Foundation’s ten director nominees at the upcoming Annual Meeting of Stockholders scheduled for Tuesday, June 27, 2023. In its recommendation, ISS concludes that Driver has not made a compelling case for change: “From an operational performance standpoint, the company had delivered strong top-line and earnings growth over the last five years, mirrored by steady growth in assets, deposits, and loans, while maintaining a strong credit profile.” Commenting on the recommendation, Scott F. Kavanaugh, President and CEO, said: “ISS recognizes that First Foundation has the right Board and the right strategy to continue enhancing value for stockholders. This unbiased third-party recommendation reaffirms the Board’s conclusion that Driver did not make a compelling case for change and their nominee does not have the experience or expertise to be additive to the First Foundation Board.”