Trusts tied to First Western (MYFW) director Duncan sell 3,668 shares at $24.95

Rhea-AI Filing Summary

First Western Financial director David R. Duncan, through trusts for which he serves as trustee, reported sales of First Western Financial Inc. common stock. On January 28, 2026, the Sara C. Duncan GST Exempt Marital Trust sold 1,674 shares at $24.95 per share, and the Sara C. Duncan Revocable Trust sold 1,994 shares at $24.95 per share. Following these transactions, the Revocable Trust held 8,626 shares, and Duncan also reported 43,678 shares of common stock held directly. The filing notes that he reports the trust-held shares in his capacity as trustee and disclaims beneficial ownership except to the extent of his pecuniary interest.

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
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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^*

Duncan David R

(Last) (First) (Middle)

1900 16TH STREET, SUITE 1200

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
First Western Financial Inc [ MYFW ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

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

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

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

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								43,678	D
Common Stock	01/28/2026		S		1,674	D	$24.95	0	I	Sara C. Duncan GST Exempt Marital Trust(1)
Common Stock	01/28/2026		S		1,994	D	$24.95	8,626	I	Sara C. Duncan Revocable Trust(1)

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. The reporting person is the trustee of this trust. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.

Remarks:

	/s/ Julie A. Courkamp, Attorney-in-Fact	01/29/2026
	** 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.

FAQ

What insider transactions did MYFW director David R. Duncan report?

David R. Duncan reported trust-related sales of First Western Financial (MYFW) common stock. On January 28, 2026, two trusts associated with him as trustee sold a combined 3,668 shares at $24.95 per share, with trust and direct holdings reported after the trades.

Which entities actually sold MYFW shares in this Form 4 filing?

The sellers were the Sara C. Duncan GST Exempt Marital Trust and the Sara C. Duncan Revocable Trust. Duncan is trustee of these trusts and reports the transactions in that capacity, while disclaiming beneficial ownership beyond any pecuniary interest in the trust-held shares.

How many MYFW shares did each trust sell and at what price?

On January 28, 2026, the GST Exempt Marital Trust sold 1,674 MYFW shares at $24.95 per share, and the Revocable Trust sold 1,994 MYFW shares at the same price. These non-derivative transactions were coded as open-market or similar sales.

What MYFW holdings remained in the trusts after the reported sales?

After the transactions, the Sara C. Duncan GST Exempt Marital Trust reported holding zero MYFW shares, while the Sara C. Duncan Revocable Trust reported holding 8,626 MYFW shares. These positions are reported as indirect ownership through the respective trusts.

How many MYFW shares does David R. Duncan hold directly after these trades?

The Form 4 shows 43,678 MYFW common shares held directly by David R. Duncan following the reported transactions. This direct holding is separate from the indirect trust positions, which are reported under his name because he serves as trustee.

Does David R. Duncan claim full beneficial ownership of the trust-held MYFW shares?

No. The filing states that Duncan, as trustee, disclaims beneficial ownership of the trust-held MYFW shares except to the extent of his pecuniary interest. Including these shares in the report is not an admission of full beneficial ownership for Exchange Act purposes.