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

Role: Director
Signature: /s/ Richard Pearlman, Attorney-in-Fact
Issuer symbol: BAFN
Transactions as of: 15 Nov 2021
Net transactions value: $0
Form type: 3
Filing time: 15 Nov 2021, 08:42:32 UTC
Next filing: 22 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BAFN	Common Stock						16,181	15 Nov 2021	Mark S. Berset 2012 Irrevocable Trust U/A Dated 12/13/12
holding	BAFN	Common Stock						202,587	15 Nov 2021	Direct
holding	BAFN	Common Stock						48,583	15 Nov 2021	Linda Berset Irrevocable Trust
holding	BAFN	Common Stock						6,576	15 Nov 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							15 Nov 2021	Common Stock	7,815		Linda Berset Irrevocable Trust	F1
holding	BAFN	Option (Right to Buy)							15 Nov 2021	Common Stock	3,900	$14.67	Direct	F2
holding	BAFN	Option (Right to Buy)							15 Nov 2021	Common Stock	3,900	$15.67	Direct	F3
holding	BAFN	Option (Right to Buy)							15 Nov 2021	Common Stock	3,750	$14.67	Direct	F4
holding	BAFN	Option (Right to Buy)							15 Nov 2021	Common Stock	5,400	$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.