LEO ANTHONY N 4

What Happened
Leo Anthony N, a director of BayFirst Financial Corp. (BAFN), had 138 shares withheld by the issuer to satisfy tax withholding related to restricted stock awards (138 shares × $6.49 = $896) and had 0.217 fractional ESOP shares disposed (0.217 shares × $6.64 = $1). The withholding is reported as code F (tax withholding/net settlement) and the fractional share disposition is reported under code J.

Key Details

• Transaction dates and prices: 2026-05-15 — 138 shares withheld at $6.49 ($896); 2026-02-19 — 0.217 shares disposed at $6.64 ($1).
• Combined shares affected: 138.217 shares for roughly $897 total.
• Shares owned after transaction: Not disclosed in the provided data.
• Footnotes: F1 — withheld by issuer to satisfy tax withholding for net-settled RSAs (not a sale by the reporting person). F2 — fractional ESOP shares were sold as part of ESOP termination and distribution to the employee.
• Filing timeliness: Form filed 2026-05-18; since the reported transactions occurred on 2026-02-19 and 2026-05-15, this filing appears to be untimely relative to the typical two-business-day Form 4 requirement.

Context
Tax-withholding (net settlement) transactions and the sale of fractional ESOP shares are routine administrative events and do not necessarily indicate the insider’s view on the company’s prospects. The larger item here is the issuer withholding shares to cover taxes on an award rather than an open-market sale by the director.