McKim Scott Joseph 4/A

What Happened
McKim Scott Joseph, Chief Financial Officer of BayFirst Financial Corp. (BAFN), was allocated 90.831 shares through the BayFirst National Bank Employee Stock Ownership Plan (ESOP) on December 31, 2024. The shares are reported at an acquisition price of $13.30 per share, for a total reported value of $1,208. This transaction is an award/acquisition (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2024-12-31; reported in an amended Form 4 filed 2026-03-09.
• Amount: 90.831 shares at $13.30 per share; total value reported $1,208.
• Transaction type: Award/Acquisition via ESOP (code A).
• Shares owned after transaction: Not specified in the provided excerpt.
• Footnote: Shares are held by the BayFirst National Bank ESOP and allocated to the reporting person’s account; vesting is based on "Year of Vesting Service" (generally ≥1,000 hours worked in a year) and will become fully vested at Normal Retirement Age (65).
• Filing status: This is an amended Form 4. (The filing date is 2026-03-09 for a 2024-12-31 transaction.)

Context
This allocation reflects an ESOP award, which is a retirement/benefit plan allocation rather than an active market purchase or sale. ESOP allocations typically follow plan rules and vesting schedules, so they do not directly signal near-term trading intent. Because the Form 4 is an amendment filed well after the transaction date, retail investors should note the late reporting but focus on the nature of the award and its vesting terms.