Affinity Bancshares (AFBI) Director Marshall Ginn Sells 20,802 Shares

What Happened

• Marshall L. Ginn, a director of Affinity Bancshares, reported dispositions tied to the company’s merger. Two common-stock dispositions total 20,802 shares (13,094 and 7,708) that were converted into cash at $23.00 per share, generating roughly $478,446. The filing also lists three derivative dispositions (stock options or similar) that were converted as part of the same transaction; share counts and cash amounts for those derivative items were not specified in the Form 4.
• These were not open-market sales but conversions "to the issuer" under the merger agreement — effectively a cash-out for shareholders and option holders rather than a routine insider sell.

Key Details

• Transaction date(s): August 1, 2026. Form 4 filed: August 6, 2026.
• Cash consideration per common share: $23.00 (total for 20,802 shares ≈ $478,446).
• Derivative treatment: per footnote, each stock option was converted into the right to receive $23.00 less the option’s exercise price (exact option counts/amounts not disclosed).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes: F1 (common shares converted to $23.00 cash under the Merger Agreement); F2 (options converted to cash equal to $23.00 minus exercise price).
• Filing timing: Form shows transaction on Aug 1 and was filed Aug 6; check the SEC filing for any timeliness notation if that timing is material to you.

Context

• This is a merger-related cash conversion (issuer buyout), not a voluntary open-market sale by the insider. Such transactions are common when a company is acquired and do not necessarily indicate the insider’s view on future performance.
• For the derivative items, the options were effectively cashed out per the merger terms (option holders receive cash equal to merger consideration minus exercise price), so these are not typical option exercises followed by share sales.