Bank First (BFC) Proxy filing summary

Executive summary

• The 2026 Annual Meeting will be held on June 15, 2026, with shareholders voting on director elections, auditor ratification, executive compensation, and an amendment to the Articles of Incorporation.

• Shareholders can vote online, by phone, or by mail, and may revoke proxies before the meeting.

• The Board recommends voting FOR all proposals, citing alignment with best practices and strategic flexibility.

Voting matters and shareholder proposals

• Election of three directors for three-year terms.

• Ratification of Forvis Mazars, LLP as independent auditor for 2026.

• Advisory vote to approve named executive officer compensation (say-on-pay).

• Approval of an amendment to remove the 80% supermajority vote for certain transactions, aligning with Wisconsin law.

• No other shareholder proposals or director nominations were received for this meeting.

Board of directors and corporate governance

• Board is divided into three classes, with staggered three-year terms.

• Current Board structure combines Chairman and CEO roles, with a Lead Independent Director.

• Board committees include Audit, Compensation, Governance and Nominating, ALM, CRA, ERM, IT, and Loan Committees.

• Annual Board and committee self-evaluations are conducted.

• Majority of directors are independent per NASDAQ and SEC standards.