Affinity Bancshares Director Robin Reich Sells 24,494 Shares in Merger

What Happened Robin S. Reich, a director of Affinity Bancshares, reported dispositions on Aug 1, 2026 related to the company's merger. The filing shows a disposition of 24,494 common shares that were converted into cash at $23.00 per share under the Merger Agreement — a total of $563,362. The Form 4 also lists three derivative dispositions (stock options) with share counts reported as N/A; per the filing footnote, each option was converted into the right to receive $23.00 cash less the option's exercise price.

Key Details

• Transaction date: 2026-08-01; Form 4 filed: 2026-08-06.
• Primary disposition: 24,494 common shares × $23.00 = $563,362 cash (per Merger Agreement, footnote F1).
• Derivative dispositions: three option-related dispositions listed with N/A share counts; per footnote F2, options were converted into cash equal to $23.00 minus the exercise price.
• Shares owned after transaction: not specified in this filing.
• Nature of transaction: disposition to the issuer as part of a merger cash-out (not an open-market sale).

Context These disposals resulted from the March 30, 2026 Merger Agreement, under which each outstanding common share was converted into $23 cash. Option holdings were likewise cashed out per the agreement (cash settlement equal to $23 minus strike). Such merger-related cash conversions are routine administrative transactions and reflect the deal terms rather than a typical insider buy/sell decision.