BayFirst Director Anthony Saravanos Disposes $25,000 in Derivatives

What Happened
Anthony Saravanos, a director of BayFirst Financial Corp. (BAFN), reported an other acquisition/disposition (code J) on 2026-08-13: he disposed of 25 derivative units at an attributed price of $1,000.00 each, for a total value of $25,000. The filing classifies this as a disposition of derivative securities rather than a straightforward open-market stock sale.

Key Details

• Transaction date: 2026-08-13; Report filed: 2026-09-01 (filed 19 days after the transaction).
• Transaction type/code: Other acquisition or disposition (J); Derivative instrument; Disposed 25 units @ $1,000.00 each = $25,000.
• Shares/units owned after transaction: Not specified in the provided filing details.
• Notable footnote (F1): Series B Convertible Preferred Stock holders have a conversion right into common stock based on a conversion ratio equal to $1,000 liquidation preference divided by tangible book value per common share (calculated using quarter‑end financials, with a specific timing adjustment).
• Timeliness: Filing appears late (Form 4s are generally required within 2 business days of the change); this is a compliance/filing-timeliness issue, not a statement about investment intent.

Context
This was a disposition of a derivative security (related to Series B convertible preferred terms described in F1). For retail investors, purchases typically send a clearer bullish signal; dispositions can be routine (e.g., conversions, restructurings, or liquidity events). The late filing is a disclosure/compliance note investors may want to consider but does not by itself indicate the reason for the transaction.