Affinity Bancshares EVP Nelson Clark Sells 20,502 Shares

What Happened

Nelson Clark, Executive Vice President and Chief Credit Officer of Affinity Bancshares (AFBI), disposed of 20,502 common shares on August 1, 2026 as part of the company’s merger transaction. Under the merger, each issued and outstanding share was converted into the right to receive $23.00 in cash, so the disclosed common-share dispositions equal roughly $471,546. The filing also reports derivative dispositions (options) converted into cash consideration, but the filing does not specify share counts or values for those derivative items.

Key Details

• Transaction date: August 1, 2026; Form filed August 6, 2026.
• Price/consideration: $23.00 per common share per Merger Agreement (Footnote F1).
• Common shares disposed: 12,129; 1,000; and 7,373 (total 20,502) → ~ $471,546 cash.
• Derivative dispositions: reported but number/value not specified; per footnote F2, each option converted to the right to receive $23.00 less the option exercise price.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 (stock cashed out at $23/share), F2 (options converted to cash = $23 - exercise price), F3 (one item not required to be reported under Section 16).
• Filing timeliness: filing shows report date Aug 6 for Aug 1 transactions; the filing does not flag a late report.

Context

This was not an open-market sale but a cash-out under the Agreement and Plan of Merger — routine when a company is acquired and outstanding shares and options are converted into merger consideration. Derivative line items reflect conversion/settlement of options per the merger terms (cash paid equal to $23 minus each option’s strike), not necessarily an exercise-and-sell by the insider. Such merger-driven dispositions reflect the transaction terms rather than a discretionary trading decision.