First Western Financial Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by First Western Financial Inc. (Nasdaq: MYFW) on May 8, 2019, reporting events occurring on May 2, 2019. The registrant is an emerging growth company headquartered in Denver, Colorado.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation arrangements.
Material Changes
The primary material change reported is the amendment to the employment agreement of Julie Courkamp, Chief Financial Officer. Effective May 2, 2019, the agreement was amended to reflect a base salary adjustment that commenced on February 1, 2019.
- Executive: Julie Courkamp, Chief Financial Officer.
- Salary Adjustment: Annualized base salary set at $300,000.
- Effective Date: The salary increase is retroactive to February 1, 2019.
- Incentives: Ms. Courkamp remains eligible for annual incentive compensation under the company's Incentive Plan for Senior Executive Officers.
- Terms: The base salary is subject to annual review by the board of directors and cannot be decreased without Ms. Courkamp's prior written consent.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on operations, or specific risk factors beyond the standard incorporation of the full employment agreement text.
Investor Verification Checklist
- Verify the full terms of the Amended Employment Agreement in Exhibit 10.1 attached to this filing.
- Review the original Amended and Restated Employment Agreement referenced in Exhibit 10.4 of the Form S-1 filed on June 19, 2018, for unchanged terms.
- Confirm the impact of the salary adjustment on the company's quarterly and annual compensation expenses.