On January 31, 2023, Driver Management Company LLC sent a letter to First Foundation Inc.?s Chief Executive Officer, Scott Kavanaugh. In the letter, Driver Management stated that it is writing to confirm the substance of its very brief phone conversation, specifically that Scott Kavanaugh, on behalf of the Company, do not want to have any discussion whatsoever regarding any potential settlement that would preclude a contested election of directors at the Company?s 2023 annual meeting of directors. Driver Management stated that it can only assume that Scott Kavanaugh believe that the Company stockholders have faith in the Company?s management and board of directors, despite the Company?s one, three, and five year total stockholder returns of -40%, -5.71%, and -15.47% as compared to -12.55%, 10.03%, and 12.07% for the S&P United States BMI Banks Index.