Deloach Dennis Reppard III 4
4 · BayFirst Financial Corp. · Filed Oct 2, 2023
Insider Transaction Report
Form 4
Deloach Dennis Reppard III
Director
Transactions
- Purchase
Series C Cumulative Convertible Preferred Stock
2023-09-30$1000.00/sh+500$500,000→ 500 totalFrom: 2023-09-30Exp: 2033-09-30→ Common Stock
Footnotes (1)
- [F1]Mr. DeLoach acquired 500 shares of Series C Cumulative Convertible Preferred Stock. The Series C Cumulative Convertible Preferred Stock has a liquidation preference of $1,000 per share. The holders of Series C Cumulative Convertible Preferred Stock have the right to convert such shares into shares of common stock at a conversion ratio equal to the quotient of: (i) the $1,000 liquidation preference; divided by (ii) the tangible book value per share of common stock, calculated on the basis of BayFirst Financial Corp. financial statements, as of the last day of the calendar quarter occurring prior to the date on which a holder exercises the conversion right; provided, however, that tangible book value shall be adjusted to reflect a subsequent quarter end only on the last day of the month succeeding such quarter end.