BayFirst Financial Corp. — Director's Dealing 2022

Dec 12, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BayFirst Financial Corp. (BAFN)
CIK: 0001649739
Period of Report: 2022-12-09

Reporting Person: Luckey Matthew Mann (Executive Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5457.1092	Direct
Common Stock	1094.084	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (Right to Buy)	$14.67	2029-03-15	Common Stock (6000.0)	6000	Direct
Option (Right to Buy)	$15.67	2030-01-15	Common Stock (5625.0)	5625	Direct
Series B Convertible Preferred Stock	$	2030-08-14	Common Stock (10.0)	10	Direct
Option (Right to Buy)	$14.67	2031-01-14	Common Stock (5625.0)	5625	Direct
Option (Right to Buy)	$17.33	2028-06-12	Common Stock (8100.0)	8100	Direct

Footnotes

F1: The shares subject to this option are fully vested and immediately exercisable.

F2: Options are exercisable for 90 days after employment termination date of December 9, 2022.

F3: The holders of shares of Series B 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.s 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.