Harold Jack Winner - 24 Jan 2023 Form 4 Insider Report for BayFirst Financial Corp. (BAFN)

Role
Director
Signature
/s/ Barbara Felts, Attorney-in-fact
Issuer symbol
BAFN
Transactions as of
24 Jan 2023
Net transactions value
$0
Form type
4
Filing time
25 Jan 2023, 15:04:45 UTC
Previous filing
19 Dec 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BAFN Common Stock 49,485 24 Jan 2023 Direct
holding BAFN Common Stock 2,300 24 Jan 2023 Winner Family Living Trust UTD 6-13-18

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 Option (Right to Buy) 5,100 24 Jan 2023 Common Stock 5,100 $14.67 Direct F1
holding BAFN Option (Right to Buy) 5,250 24 Jan 2023 Common Stock 5,250 $15.67 Direct F2
holding BAFN Option (Right to Buy) 8,100 24 Jan 2023 Common Stock 8,100 $17.33 Direct F3
holding BAFN Option (Right to Buy) 5,250 24 Jan 2023 Common Stock 5,250 $14.67 Direct F4
holding BAFN Series B Convertible Preferred Stock 130 24 Jan 2023 Common Stock 130 Winner Family Living Trust UTD 6-13-18 F5
holding BAFN Series B Convertible Preferred Stock 100 24 Jan 2023 Common Stock 100 Winner Family Living Trust UTD 6-13-18 F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Harold Jack Winner is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These options vest in three equal annual installments beginning one year after the 1/14/2021 date of grant.
F2 These options vest in three equal annual installments beginning one year after the 1/15/2020 date of grant.
F3 These options vest in three equal annual installments beginning one year after the 6/12/2018 date of grant.
F4 These options vest in three equal annual installments beginning one year after the 3/15/2019 date of grant.
F5 The holders of shares of Series B Convertible Preferred Stock have the right to convert such shares into shares of common stock at a conversion ratio equal to the quotient of: (i) the $1,000 liquidation preference; divided by (ii) the tangible book value per share of common stock, calculated on the basis of BayFirst Financial Corp.s financial statements, as of the last day of the calendar quarter occurring prior to the date on which a holder exercises the conversion right; provided, however, that tangible book value shall be adjusted to reflect a subsequent quarter end only on the last day of the month succeeding such quarter end.