Affinity Bancshares CEO Edward Cooney Sells 118,392 Shares

What Happened

• Edward John Cooney, CEO and director of Affinity Bancshares, reported multiple dispositions to the issuer on 2026-08-01 tied to the company’s merger. He surrendered/converted a total of 118,392 common shares (77,051 + 27,920 + 5,130 + 8,291) that, under the merger agreement, were converted into $23.00 cash per share — roughly $2,723,016 in aggregate. The filing also shows three derivative dispositions (options/conversions) for which share counts were not specified in the report.

Key Details

• Transaction date: 2026-08-01; Filing date: 2026-08-06 (appears later than the standard 2-business-day Form 4 reporting window).
• Price/consideration: $23.00 cash per common share pursuant to the Merger Agreement (Footnote F1).
• Options/derivatives: Stock options were converted to cash per the Merger Agreement (cash = $23.00 less the option exercise price) (Footnote F2). Specific option share counts were not provided.
• Post-transaction holdings: Not disclosed in the provided filing.
• Reporting notes: Footnote F3 indicates at least one reported item was a transaction not required to be reported under Section 16.

Context

• These were not open-market sales but merger-related conversions: each common share was cashed out at the merger consideration, and options were converted into cash value per the agreement. Such transactions are routine in acquisition/merger deals and reflect deal terms rather than a market-timing decision by the insider.
• Because some items were marked not required to be reported under Section 16 (F3) and the filing date is several days after the transaction date, retail investors may want to note the reporting timing but not infer trading intent beyond the merger mechanics.