FirstSun (FSUN) director gets 80,415-share equity award in merger swap

Rhea-AI Filing Summary

FIRSTSUN CAPITAL BANCORP director Thomas C. Shafer reported an equity award linked to a merger transaction. He acquired 80,415 shares of FirstSun common stock on a grant/award basis at a stated price of $0.00 per share, increasing his direct holdings to 80,415 shares.

The footnote explains these shares were received in exchange for 500,000 unvested restricted stock units of First Foundation Inc. that were assumed by FirstSun and replaced with FirstSun RSUs in connection with the merger of First Foundation with and into FirstSun. In a separate line, 7,105 shares are reported as indirectly held through the Thomas C. Shafer Revocable Living Trust, reflecting his additional indirect ownership position.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider SHAFER THOMAS C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.0001 par value	80,415	$0.00	--
holding	Common Stock, $0.0001 par value	--	--	--

Holdings After Transaction: Common Stock, $0.0001 par value — 80,415 shares (Direct); Common Stock, $0.0001 par value — 7,105 shares (Indirect, Thomas C. Shafer Revocable Living Trust)

Footnotes (1)

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Key Figures

Equity award shares: 80,415 shares Award price per share: $0.00 per share Direct holdings after award: 80,415 shares +3 more

6 metrics

Equity award shares 80,415 shares Grant/award acquisition of FirstSun common stock on A-code transaction

Award price per share $0.00 per share Stated transaction price for 80,415 granted shares

Direct holdings after award 80,415 shares Total direct FirstSun common stock following grant

Indirect trust holdings 7,105 shares Indirectly owned through Thomas C. Shafer Revocable Living Trust

Unvested First Foundation RSUs 500,000 RSUs RSUs of First Foundation exchanged and assumed by FirstSun

Merger exchange ratio 0.16083 Shares of FirstSun common stock per share of First Foundation common stock

Key Terms

restricted stock units ("RSUs"), exchange ratio, revocable living trust, merger

4 terms

restricted stock units ("RSUs") financial

"Received in exchange for 500,000 unvested restricted stock units ("RSUs") of First Foundation Inc."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

exchange ratio financial

"based on the exchange ratio in the merger of 0.16083 of a share of FirstSun common stock"

The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.

revocable living trust financial

"Thomas C. Shafer Revocable Living Trust"

merger financial

"in connection with the merger of First Foundation with and into FirstSun"

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.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SHAFER THOMAS C

(Last) (First) (Middle)

1400 16TH STREET

SUITE 250

(Street)

DENVER COLORADO 80202

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FIRSTSUN CAPITAL BANCORP [ FSUN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.0001 par value	04/01/2026		A		80,415	A	(1)	80,415	D
Common Stock, $0.0001 par value								7,105	I	Thomas C. Shafer Revocable Living Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Received in exchange for 500,000 unvested restricted stock units ("RSUs") of First Foundation Inc. ("First Foundation") that were assumed by FirstSun Capital Bancorp ("FirstSun") and replaced with RSUs of FirstSun, in connection with the merger of First Foundation with and into FirstSun. Each unvested RSU of First Foundation was converted into an RSU of FirstSun with respect to FirstSun common stock, based on the exchange ratio in the merger of 0.16083 of a share of FirstSun common stock for each share of First Foundation common stock.

Remarks:

	/s/ Kelly C. Rackley, by power of attorney	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did FSUN director Thomas C. Shafer report?

Thomas C. Shafer reported acquiring 80,415 shares of FirstSun common stock as an equity award at a stated price of $0.00 per share. This grant reflects stock-based compensation tied to a corporate merger rather than an open-market purchase or sale.

How is the First Foundation merger related to this FSUN Form 4 filing?

The filing states Shafer’s 80,415 FirstSun shares were received in exchange for 500,000 unvested First Foundation restricted stock units. Those RSUs were assumed by FirstSun and replaced with FirstSun RSUs in connection with the merger of First Foundation into FirstSun.

Does Thomas C. Shafer hold FSUN shares indirectly through a trust?

Yes. The Form 4 lists 7,105 FirstSun shares as indirectly owned through the Thomas C. Shafer Revocable Living Trust. This entry is reported as an indirect holding, separate from his 80,415 directly held shares from the merger-related equity award.

Was the FSUN transaction a market buy or sell of shares?

No. The transaction code is A, described as a grant, award, or other acquisition, with a price of $0.00 per share. This indicates stock-based compensation or conversion rather than an open-market purchase or sale of FirstSun common stock.

What exchange ratio is mentioned in the FSUN insider filing footnote?

The footnote cites an exchange ratio of 0.16083 of a share of FirstSun common stock for each share of First Foundation common stock. This ratio governed how First Foundation equity interests were converted into FirstSun equity in the merger.