Affinity Bancshares CFO converts shares at $23
Pajot Brandi C reported disposition transactions in this Form 4 filing.
Rhea-AI Filing Summary
Pajot Brandi C reported disposition transactions in this Form 4 filing.
Affinity Bancshares, Inc. SVP and Chief Financial Officer Brandi C. Pajot reported the cash-out of her equity interests in connection with a merger. Each share of common stock was converted into the right to receive $23.00 in cash, covering 21,415 directly held shares and 5,484 ESOP shares, leaving no reported common stock holdings. Stock options covering 13,602, 10,000, 10,000 and 10,000 underlying shares at exercise prices between $7.77 and $14.49 were converted into cash equal to $23.00 minus the applicable exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 26,899 shares
Disposition
6 txns
Insider
Pajot Brandi C
Role
SVP - Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Common Stock F1 | 21,415 | -- | -- |
| Disposition | Common Stock F3, F1 | 5,484 | -- | -- |
Holdings After Transaction:
Stock Options — 0 contracts (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By ESOP)
Footnotes (3)
- F1. Pursuant to the Agreement and Plan of Merger, dated March 30, 2026, by and among the Issuer, Affinity Bank, National Association, Fidelity BancShares (N.C.), Inc., The Fidelity Bank, and TFB Merger Subsidiary, Inc. (the "Merger Agreement"), each issued and outstanding share of Issuer common stock was converted into the right to receive $23.00 cash consideration.
- F2. Pursuant to the Merger Agreement, each stock option was converted into the right to receive $23.00 cash consideration less the exercise price of such option.
- F3. Reflects transaction not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.
Key Figures
Merger cash consideration per share: $23.00
Direct common shares converted: 21,415 shares
ESOP common shares converted: 5,484 shares
+4 more
7 metrics
Merger cash consideration per share
$23.00
Cash consideration for each issued and outstanding share of common stock under the merger agreement
Direct common shares converted
21,415 shares
Directly held Affinity Bancshares common stock converted into the right to receive $23.00 per share
ESOP common shares converted
5,484 shares
Common stock held indirectly by ESOP converted into the right to receive $23.00 per share
Option strike price
$7.77
Stock options exercisable at $7.77 covering 13,602 underlying shares, expiring 2030-04-30
Option strike price
$14.85
Stock options exercisable at $14.85 covering 10,000 underlying shares, expiring 2032-07-01
Option strike price
$14.40
Stock options exercisable at $14.40 covering 10,000 underlying shares, expiring 2033-03-21
Option strike price
$14.49
Stock options exercisable at $14.49 covering 10,000 underlying shares, expiring 2033-11-16
Key Terms
Agreement and Plan of Merger, cash consideration, stock option, ESOP, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated March 30, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
cash consideration financial
"each share of Issuer common stock was converted into the right to receive $23.00 cash consideration"
Cash consideration is the actual money paid to buy a company, asset, or stake rather than payment in shares or other forms. For investors it matters because cash payments deliver immediate, certain value and affect the buyer’s and seller’s cash reserves and balance sheets—like selling a car for cash versus taking a trade-in, one side gets instant spending power while the other changes its liquidity and risk profile.
stock option financial
"each stock option was converted into the right to receive $23.00 cash consideration less the exercise price"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
ESOP financial
"nature_of_ownership: By ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
Section 16 of the Securities Exchange Act of 1934 regulatory
"Reflects transaction not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did AFBI’s Brandi C. Pajot report?
Brandi C. Pajot, SVP and Chief Financial Officer of Affinity Bancshares (AFBI), reported dispositions of common stock and stock options. All reported holdings were converted into rights to receive cash consideration in connection with a merger, rather than open-market trading.
How were AFBI stock options held by Brandi Pajot treated?
Each stock option was converted into the right to receive $23.00 in cash minus its exercise price. The options covered blocks of 13,602, 10,000, 10,000 and 10,000 underlying common shares with exercise prices between $7.77 and $14.49.
Were the AFBI insider transactions under a Rule 10b5-1 trading plan?
The Rule 10b5-1 checkbox was not marked for these transactions, and a footnote explains they result from a merger agreement. The disposition reflects mandatory merger consideration rather than discretionary trading under a pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
