Bank First (BFC) Proxy Filing summary

Executive summary

• The 2025 Annual Meeting will be held on June 16, 2025, to elect four directors, ratify the appointment of Forvis Mazars, LLP as auditor, and hold an advisory vote on executive compensation.

• Shareholders of record as of April 7, 2025, are entitled to vote; a majority of outstanding shares is required for a quorum.

• Proxy materials are available online, and voting can be done electronically, by phone, or by mail.

• The Board recommends voting FOR all proposals.

Voting matters and shareholder proposals

• Proposals include electing four directors for three-year terms, ratifying the independent auditor, and an advisory vote on executive compensation.

• Shareholders may submit proposals for the 2026 meeting by December 24, 2025, and director nominations between February 16 and March 18, 2026.

• No director nominations were received from shareholders for the 2025 meeting.

Board of directors and corporate governance

• The Board is divided into three classes, with four directors up for election in 2025.

• Board leadership combines the roles of Chairman and CEO, with a Lead Independent Director to ensure independent oversight.

• The Board conducts annual self-evaluations and committee assessments.

• Ten directors are independent; two are not due to executive roles.

• Board diversity is emphasized, with a matrix showing varied expertise and backgrounds.