Director Duncan-linked trust trims First Western (MYFW) stake in Form 4 filing

Rhea-AI Filing Summary

First Western Financial director reports trust-related stock sales. On January 27, 2026, a trust for which director David R. Duncan serves as trustee, the Sara C. Duncan GST Exempt Marital Trust, sold 1,381 First Western Financial common shares at $24.99 and 3,025 shares at $25.17. After these transactions, that trust held 1,674 shares. Separately, 10,620 shares were reported as held by the Sara C. Duncan Revocable Trust, and 43,678 shares were held directly. The filing notes that Duncan disclaims beneficial ownership of the trust-held shares except to the extent of his pecuniary interest.

Insider Trade Summary

Net Seller: 4,406 shares ($110,650)

Net Sell 4 txns

Insider Duncan David R

Role Director

Sold 4,406 shs ($111K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,381	$24.99	$35K
Sale	Common Stock	3,025	$25.17	$76K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 4,699 shares (Indirect, Sara C. Duncan GST Exempt Marital Trust); Common Stock — 43,678 shares (Direct)

Footnotes (1)

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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^*

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)
01/27/2026

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	01/27/2026		S		1,381	D	$24.99	4,699	I	Sara C. Duncan GST Exempt Marital Trust(1)
Common Stock	01/27/2026		S		3,025	D	$25.17	1,674	I	Sara C. Duncan GST Exempt Marital Trust(1)
Common Stock								10,620	I	Sara C. Duncan Revocable Trust(1)
Common Stock								43,678	D

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	01/28/2026
	** 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 transaction did MYFW director David R. Duncan report?

Director David R. Duncan reported sales by a trust where he is trustee. The Sara C. Duncan GST Exempt Marital Trust sold 1,381 MYFW shares at $24.99 and 3,025 shares at $25.17 on January 27, 2026.

How many MYFW shares did the Sara C. Duncan GST Exempt Marital Trust hold after the sale?

After the reported MYFW stock sales, the Sara C. Duncan GST Exempt Marital Trust held 1,674 common shares. These holdings are reported because Duncan is trustee, though he disclaims beneficial ownership except for any pecuniary interest he may have.

Does David R. Duncan disclaim beneficial ownership of the MYFW shares held in the trust?

Yes. Duncan, as trustee of the Sara C. Duncan GST Exempt Marital Trust, disclaims beneficial ownership of those MYFW shares, except to the extent of his pecuniary interest, according to the disclosure language included with the filing.

What other MYFW share holdings are reported for David R. Duncan?

In addition to the marital trust, the filing reports 10,620 MYFW shares held by the Sara C. Duncan Revocable Trust and 43,678 MYFW shares held directly. These figures reflect holdings reported as of the Form 4 transaction date.

What was the transaction date for the MYFW insider stock sales?

The MYFW insider stock sales were dated January 27, 2026. On that day, the Sara C. Duncan GST Exempt Marital Trust, associated with director David R. Duncan as trustee, executed two sale transactions at prices of $24.99 and $25.17 per share.

What role does David R. Duncan hold at First Western Financial (MYFW)?

David R. Duncan is identified as a director of First Western Financial (MYFW). The Form 4 indicates his relationship as a director and reports transactions and holdings involving both trusts and his direct ownership of MYFW common stock.