Oliver Robin Leigh 4

What Happened

• Oliver Robin Leigh, President, COO and a Director of BayFirst Financial Corp. (BAFN), acquired 49.826 shares on Feb 5, 2026 at $6.02 per share for $300. In addition, several small share dispositions between Jan 23–Feb 3 reflect shares withheld or surrendered to cover exercise prices or tax liabilities tied to equity awards (not open-market sales).
• Dispositions listed: multiple withholdings/net settlements of 119–134 shares at prices between $6.65 and $6.82 (values ~$802–$898 each). These were recorded as payments of exercise price or tax liability, not typical sell transactions.

Key Details

• Transactions (date — action — shares — price — value):
  • 2026-02-05 — Other acquisition (J) — 49.826 sh @ $6.02 = $300 (purchase)
  • 2026-02-03 — Tax/price payment (F) — 134 sh @ $6.65 = $891 (withheld)
  • 2026-01-23 — Tax/price payment (F) — 134 sh @ $6.70 = $898 (withheld)
  • 2026-01-26 — Tax/price payment (F) — 119 sh @ $6.82 = $812 (withheld) — listed twice
  • 2026-01-27 — Tax/price payment (F) — 119 sh @ $6.74 = $802 (withheld)
• Shares owned after these transactions: not specified in the provided excerpt of the filing.
• Footnotes:
  • F1: Some shares were purchased through the issuer’s Non‑Qualified Stock Purchase Plan.
  • F2: Shares listed as withheld represent the company withholding shares to satisfy tax withholding on restricted stock awards (RSAs) and do not represent a sale by the reporting person.
• Filing timeliness: Form 4 was filed on Feb 6, 2026. Because some transactions occurred Jan 23–27, those earlier items were reported more than the standard 2 business days after execution, suggesting delayed reporting for those entries.

Context

• The small acquisition (~50 shares, $300) is a direct purchase and is a clearer buy signal than the withholding entries, which are routine administrative actions. Withheld shares for taxes or to cover exercise costs are common and do not indicate an open-market sale by the insider.
• For retail investors, purchases by executives can be informative, but this purchase is modest in size. The larger listed movements are internal settlement/withholding mechanics rather than market exits.