Bank First (BFC) Proxy filing summary

Executive summary

• The 2026 Annual Meeting will be held on June 15, 2026, to elect directors, ratify the auditor, approve executive compensation, and amend the Articles of Incorporation regarding shareholder approval requirements for major transactions.

• 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

• Proposals include electing three directors for three-year terms, ratifying Forvis Mazars, LLP as auditor, approving executive compensation (say-on-pay), and amending the Articles to remove the 80% supermajority requirement for certain transactions.

• Shareholders may submit proposals for the 2027 meeting by December 26, 2026, and director nominations between February 15 and March 15, 2027.

• No director nominations were received from shareholders for the 2026 meeting.

Board of directors and corporate governance

• The Board is divided into three classes, with three nominees up for election and several directors continuing in office.

• Board leadership combines the roles of Chairman and CEO, with a Lead Independent Director to ensure independent oversight.

• All Board committees are composed of independent directors, and the Board conducts annual self-evaluations.

• The Board has ten independent and two non-independent directors as of 2025.