BayFirst (BAFN) COO Robin Leigh Disposes 10 Derivative Shares

What Happened
Robin (Oliver) Leigh, BayFirst Financial Corp. (BAFN) Chief Operating Officer and director, reported a disposition of 10 derivative securities on 2026-08-13. The transaction is coded as "Other acquisition or disposition (J)" and shows a per-share price of $1,000 for a total value of $10,000. This was a disposition of derivative instruments (not a straightforward open-market sale of common stock).

Key Details

• Transaction date: 2026-08-13; Form 4 filed: 2026-09-01 (filed ~19 days after the transaction).
• Transaction type/code: Other acquisition/disposition (J); Derivative disposition.
• Quantity and value: 10 derivative shares @ $1,000.00 each = $10,000 total.
• Shares owned after transaction: Not specified in the information provided.
• Footnote of note (F1): Series B Convertible Preferred holders had a conversion right into common stock based on a ratio equal to $1,000 (liquidation preference) divided by tangible book value per common share as of the last day of the prior calendar quarter (with a specific timing adjustment for quarter-end updates).

Context
Code J indicates a transaction that doesn't fit standard buy/sell/exercise categories; in this case the filing lists a derivative disposition tied to the Series B convertible preferred mechanics described in the footnote. Form 4s are normally due within two business days of the transaction, so this filing’s later date delayed public disclosure of the trade. The filing is factual and does not indicate the insider’s motive.