BayFirst (BAFN) Director Deloach Dennis Reppard III Disposes $50K

What Happened

• Deloach Dennis Reppard III, a director of BayFirst Financial Corp. (BAFN), recorded a disposition of 50 derivative shares on August 13, 2026. The reported price was $1,000.00 per share for a total transaction value of $50,000. The Form 4 lists this as a derivative transaction (transaction code J: "other acquisition or disposition").

Key Details

• Transaction date and price: Aug 13, 2026 — 50 shares @ $1,000.00 each (total $50,000).
• Transaction code: J (other acquisition or disposition); filing labels this as a derivative transaction.
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: Series B Convertible Preferred conversion terms (see F1) — holders may convert each $1,000 liquidation-preference share into common stock at a ratio equal to $1,000 divided by the tangible book value per common share as of the last day of the prior calendar quarter (with a specific quarter-end adjustment rule).
• Filing timeliness: Form filed 2026-09-01 covering the 2026-08-13 transaction (about 19 days after the trade). SEC Form 4s are normally due within two business days, so this filing appears late from a timeliness standpoint.

Context

• This was a disposition of a derivative preferred share position (not a straight open-market sale of common stock). The footnote indicates these Series B preferred shares carry a conversion feature into common stock based on tangible book value; the filing does not state that a conversion or exercise occurred, only a disposition of the derivative instrument. Disposals can be routine and do not, by themselves, indicate insider sentiment; monitor future filings for any conversions or additional trades.