First Western Financial (MYFW) Proxy Filing summary

Executive summary

• 2024 saw strong financial performance, with book value per share rising to $26.10 and net income available to common shareholders increasing 62.2% to $8.5 million compared to 2023. Diluted EPS grew to $0.87, and non-performing loans dropped significantly.

• The 2025 Annual Meeting will address director elections, auditor ratification, executive compensation (say-on-pay), and approval of an amended Omnibus Incentive Plan with an increased share reserve.

• The company emphasizes alignment of executive and director interests with shareholders through equity-based compensation, robust governance, and risk oversight.

Voting matters and shareholder proposals

• Shareholders will vote to elect eleven directors, ratify Crowe LLP as auditor for 2025, approve executive compensation on an advisory basis, and approve the amended Omnibus Incentive Plan with a 150,000 share increase.

• Board recommends voting FOR all proposals.

• Shareholder proposals for the 2026 meeting must be submitted by January 6, 2026.

Board of directors and corporate governance

• Board consists of eleven members, with 27% female representation and increasing diversity.

• Majority of directors are independent; lead independent director role is in place.

• Board met five times in 2024; all directors attended at least 75% of meetings.

• Three standing committees: Audit, Compensation, and Corporate Governance & Nominating, all composed of independent directors.

• Corporate Governance Guidelines, Code of Business Conduct and Ethics, and Clawback Policy are in effect.