Canyon Capital reports 0% stake in First Foundation (FFWM) after merger

Rhea-AI Filing Summary

Canyon Capital Advisors LLC and related reporting persons filed Amendment No. 1 to their Schedule 13D on First Foundation Inc. to report that they no longer beneficially own any shares of the company’s common stock.

On April 1, 2026, First Foundation merged into FirstSun Capital Bancorp, and FirstSun became the surviving corporation. At the effective time of the merger, the issuer ceased to exist. Warrants held in the reporting accounts were deemed exercised immediately before the merger and the accounts received the consideration specified in the WETA agreement. All First Foundation common shares held in the accounts were cancelled and converted into the right to receive merger consideration, leaving each reporting person with 0 shares and 0% beneficial ownership.

Key Figures

Beneficial ownership: 0.00 shares Ownership percentage: 0% Sole voting power: 0.00 shares +2 more

5 metrics

Beneficial ownership 0.00 shares Aggregate amount beneficially owned by each reporting person

Ownership percentage 0% Percent of class represented by amount in Row (11)

Sole voting power 0.00 shares Sole voting power for each reporting person

Shared voting power 0.00 shares Shared voting power for each reporting person

Merger effective date April 1, 2026 Date First Foundation merged into FirstSun Capital Bancorp

Key Terms

Merger, Support Agreement, RRA, Investment Agreement, +2 more

6 terms

Merger financial

"On April 1, 2026, the Issuer merged with and into FirstSun Capital Bancorp (the "Buyer"), with the Buyer being the surviving corporation (the "Merger")."

A merger is when two companies combine into a single business, with ownership and control reorganized so they operate as one entity. For investors it matters because mergers can change the value and risk of holdings—shares may be exchanged, diluted, or rise if the combined company saves costs or gains market power, and the deal often depends on regulatory approval and successful integration like two households joining resources and routines.

Support Agreement financial

"the Support Agreement, the RRA, and certain provisions of the Investment Agreement were terminated"

RRA financial

"the Support Agreement, the RRA, and certain provisions of the Investment Agreement were terminated"

Investment Agreement financial

"the Support Agreement, the RRA, and certain provisions of the Investment Agreement were terminated"

A written contract between an investor and a company that lays out the exact terms of an investment — how much money is provided, what the investor receives in return, and the rights and obligations of each side. It matters to investors because it sets the rules for ownership, control, payout and exit, and protections against future changes; think of it like a lease or recipe that tells everyone what to expect and how disputes or changes will be handled.

WETA financial

"pursuant to the terms of the Merger Agreement and WETA, the warrants held by the Accounts were deemed exercised"

Schedule 13D regulatory

"This Amendment No. 1 ("Amendment No. 1") amends and supplements the statement on filed with the Securities and Exchange Commission"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

First Foundation Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

32026V104

(CUSIP Number)

Canyon Partners, LLC
2728 North Harwood Street, 2nd Floor, Attention: Jonathan M. Kaplan
Dallas, TX, 75201
(214) 253-6000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/01/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 32026V104

1

Name of reporting person

CANYON CAPITAL ADVISORS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP Number(s): 32026V104

1

Name of reporting person

Joshua S. Friedman

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 32026V104

1

Name of reporting person

Mitchell R. Julis

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value per share
(b)	Name of Issuer: First Foundation Inc.
(c)	Address of Issuer's Principal Executive Offices: 5221 N. O'CONNOR BLVD., SUITE 1378, IRVING, TEXAS , 75039.
Item 1 Comment: This Amendment No. 1 ("Amendment No. 1") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission on November 3, 2025 (the "Schedule 13D"). This Amendment No. 1 supplements Items 4 and 6 and amends and restates Item 5(a)-(c), and (e) and Item 7 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 1 have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	On April 1, 2026, the Issuer merged with and into FirstSun Capital Bancorp (the "Buyer"), with the Buyer being the surviving corporation (the "Merger"). Accordingly, as of the effective time of the Merger, the Issuer ceased to exist and the Support Agreement, the RRA, and certain provisions of the Investment Agreement were terminated and the WETA has been performed. Pursuant to the terms of the Merger Agreement and WETA, the warrants held by the Accounts were deemed exercised immediately prior to the effective time of the Merger, and in connection therewith, the Accounts received the consideration set forth in the WETA. The shares of Common Stock held by the Accounts were cancelled and converted into the right to receive merger consideration at the effective time of the Merger.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover pages to this Amendment No. 1 for the aggregate number of shares of Common Stock and the percentage of the Common Stock beneficially owned by each of the Reporting Persons.
(b)	See rows (7) through (10) of the cover pages to this Amendment No. 1 for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	Except as set forth in this Amendment No. 1, the Reporting Persons have not effected any transaction in Common Stock in the past 60 days.
(e)	April 1, 2026.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The information set forth in Item 4 of this Amendment No. 1 is hereby incorporated by reference in its entirety in this Item 6.
Item 7.	Material to be Filed as Exhibits.
	1. Joint Filing Agreement by and among the Reporting Persons, dated November 3, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CANYON CAPITAL ADVISORS LLC

Signature:	/s/ Doug Anderson
Name/Title:	Doug Anderson / Chief Compliance Officer
Date:	04/03/2026

Joshua S. Friedman

Signature:	/s/ Joshua S. Friedman
Name/Title:	Joshua S. Friedman
Date:	04/03/2026

Mitchell R. Julis

Signature:	/s/ Mitchell R. Julis
Name/Title:	Mitchell R. Julis
Date:	04/03/2026

FAQ

What does Canyon Capital’s amended Schedule 13D mean for FFWM?

The amendment shows Canyon Capital and related persons now report 0 shares and 0% beneficial ownership of First Foundation common stock. Their position ended after the merger into FirstSun, when shares were cancelled for merger consideration.

Why did Canyon Capital report 0% ownership of First Foundation (FFWM)?

They report 0% because First Foundation merged into FirstSun on April 1, 2026. In that merger, their First Foundation shares were cancelled and converted into rights to receive merger consideration, eliminating beneficial ownership.

What happened to First Foundation Inc. in the April 1, 2026 merger?

On April 1, 2026, First Foundation merged with and into FirstSun Capital Bancorp, with FirstSun as the surviving corporation. As a result, First Foundation ceased to exist and its common shares were cancelled for merger consideration.

How were Canyon Capital’s First Foundation warrants treated in the merger?

The filing states that warrants held by the accounts were deemed exercised immediately before the merger. In connection with this deemed exercise, the accounts received the consideration described in the WETA agreement, instead of continuing to hold the warrants.

What merger consideration did First Foundation (FFWM) shareholders receive?

The document explains that First Foundation common shares were cancelled and converted into the right to receive merger consideration at the effective time. It references consideration set forth in the WETA, but does not detail the specific amounts or form here.