Mark S. Berset - Nov 15, 2021 Form 3 Insider Report for BayFirst Financial Corp. (BAFN)

Role: Director
Signature: /s/ Richard Pearlman, Attorney-in-Fact
Stock symbol: BAFN
Transactions as of: Nov 15, 2021
Transactions value $: $0
Form type: 3
Date filed: 11/15/2021, 08:42 AM
Next filing: Dec 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BAFN	Common Stock						16.2K	Nov 15, 2021	Mark S. Berset 2012 Irrevocable Trust U/A Dated 12/13/12
holding	BAFN	Common Stock						203K	Nov 15, 2021	Direct
holding	BAFN	Common Stock						48.6K	Nov 15, 2021	Linda Berset Irrevocable Trust
holding	BAFN	Common Stock						6.58K	Nov 15, 2021	Linda C. Berset Family Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	BAFN	Warrant							Nov 15, 2021	Common Stock	7.82K		Linda Berset Irrevocable Trust	F1
holding	BAFN	Option (Right to Buy)							Nov 15, 2021	Common Stock	3.9K	$14.67	Direct	F2
holding	BAFN	Option (Right to Buy)							Nov 15, 2021	Common Stock	3.9K	$15.67	Direct	F3
holding	BAFN	Option (Right to Buy)							Nov 15, 2021	Common Stock	3.75K	$14.67	Direct	F4
holding	BAFN	Option (Right to Buy)							Nov 15, 2021	Common Stock	5.4K	$17.33	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each warrant permits its holder to purchase one and one-half shares of common stock at a purchase price of $18.00 per common share.
F2	These options vest in three equal annual installments beginning one year after the 3/15/2019 date of grant.
F3	These options vest in three equal annual installments beginning one year after the 1/15/2020 date of grant.
F4	These options vest in three equal annual installments beginning one year after the 1/14/2021 date of grant.
F5	These options vest in three equal annual installments beginning one year after the 6/12/2018 date of grant.