Affinity Bancshares director equity converted to cash
Affinity Bancshares, Inc. director William D. Fortson Jr. reported the conversion of his equity holdings in connection with a merger.
Rhea-AI Filing Summary
Affinity Bancshares, Inc. director William D. Fortson Jr. reported the conversion of his equity holdings in connection with a merger. He disposed of 68,300 shares of common stock, which were converted into the right to receive $23.00 in cash per share under a Merger Agreement. Three stock option grants covering 5,000, 10,500 and 16,747 underlying shares, with exercise prices of $14.49, $14.87 and $11.14 per share, respectively, were converted into cash rights equal to $23.00 minus the applicable exercise price. Following these dispositions, his directly held common stock position reported in this filing was 0 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 68,300 shares
Disposition
4 txns
Insider
Fortson William D. Jr.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Common Stock F1 | 68,300 | -- | -- |
Holdings After Transaction:
Stock Options — 0 contracts (Direct);
Common Stock — 0 shares (Direct)
Footnotes (2)
- 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.
Key Figures
Common shares disposed: 68,300 shares
Cash consideration per common share: $23.00 per share
Option grant underlying shares: 5,000 shares
+5 more
8 metrics
Common shares disposed
68,300 shares
Common Stock disposition to issuer on 2026-08-01; converted to $23.00 cash per share
Cash consideration per common share
$23.00 per share
Merger Agreement cash consideration for each issued and outstanding share of common stock
Option grant underlying shares
5,000 shares
Stock option with $14.49 exercise price, expiration 2033-11-16, converted to cash right
Option grant exercise price
$14.49 per share
Exercise price for option on 5,000 underlying shares under Merger Agreement cash settlement
Second option underlying shares
10,500 shares
Stock option with $14.87 exercise price, expiration 2032-05-24, converted to cash right
Second option exercise price
$14.87 per share
Exercise price for option on 10,500 underlying shares in merger cash settlement
Third option underlying shares
16,747 shares
Stock option with $11.14 exercise price, expiration 2029-04-23, converted to cash right
Third option exercise price
$11.14 per share
Exercise price for option on 16,747 underlying shares in merger cash settlement
Key Terms
Agreement and Plan of Merger, cash consideration, stock option, Disposition to issuer
4 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
"Pursuant to the Merger Agreement, each stock option was converted into the right to receive $23.00"
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.
Disposition to issuer financial
"transaction code description: Disposition to issuer for the reported transactions"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did AFBI director William D. Fortson Jr. report?
William D. Fortson Jr., a director of AFBI, reported disposing of 68,300 common shares, which were converted into the right to receive $23.00 in cash per share under a Merger Agreement, eliminating the directly held common stock position shown in this filing.
How were AFBI stock options held by William D. Fortson Jr. treated in the merger?
Fortson’s AFBI stock options were converted into cash rights. Each option became the right to receive $23.00 in cash per underlying share, less the option’s exercise price, rather than continuing as options after completion of the Merger Agreement.
What exercise prices applied to William D. Fortson Jr.’s AFBI stock options?
The AFBI options had exercise prices of $14.49, $14.87 and $11.14 per share. Under the Merger Agreement, each option entitled the holder to $23.00 cash per share minus the relevant exercise price, effectively settling the options in cash.
Did William D. Fortson Jr. retain any directly held AFBI common stock after the merger transaction?
According to the Form 4, Fortson’s directly held AFBI common stock position after the merger-related disposition was 0 shares. His 68,300 reported common shares were converted into rights to receive $23.00 per share in cash consideration.
Was the AFBI insider transaction reported under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox was not marked as affirming a trading plan. The transactions instead stem from the Merger Agreement, which converted AFBI common shares and stock options into specified cash consideration, rather than discretionary open-market trading.
AI-generated analysis. How Rhea-AI works. Not financial advice.
