Affinity Bancshares (AFBI) CFO Brandi Pajot Sells 26,899 Shares

What Happened

• Brandi C. Pajot, Chief Financial Officer of Affinity Bancshares (AFBI), reported dispositions to the issuer on 2026-08-01 tied to the company's merger. The filing shows dispositions of 21,415 and 5,484 common shares (total 26,899 shares). Under the Merger Agreement each share was converted into the right to receive $23.00 in cash, implying proceeds of roughly $618,677 (26,899 × $23.00).
• The Form 4 also lists several derivative dispositions (options/other awards) with no share counts shown on the form; per the Merger Agreement, stock options were converted into a cash payment equal to $23.00 less the option exercise price.

Key Details

• Transaction date: August 1, 2026 (Period of Report: 2026-08-01); Form 4 filed August 6, 2026.
• Price/value: $23.00 per share cash consideration under the Merger Agreement; common-share proceeds ≈ $618,677. Option treatment: cash payment equal to $23.00 minus exercise price (amounts not itemized in the filing).
• Shares owned after transaction: not specified on the provided filing details.
• Footnotes: F1 (common shares cashed out at $23.00 each); F2 (options converted to cash equal to $23.00 less exercise price); F3 (some listed transaction(s) not required to be reported under Section 16).
• Timeliness: Filing date (8/6/2026) is five days after the transaction date (8/1/2026); this appears later than the typical two-business-day Form 4 reporting window.

Context

• These are dispositions to the issuer as part of a merger cash-out—not open-market sales. For common shares, insiders received merger consideration ($23/share). For options, the merger converted them into cash payments rather than requiring an exercise-and-sell by the insider.
• Such merger-related cash-outs are routine corporate actions and do not, by themselves, indicate insider sentiment about future share performance.