Affinity Bancshares, Inc. (AFBI) director equity fully cashed out in merger
Rhea-AI Filing Summary
Affinity Bancshares, Inc. reports that director Robin S. Reich disposed of equity holdings in connection with completion of a merger under an Agreement and Plan of Merger dated March 30, 2026.
Each issued and outstanding share of common stock, including Reich’s 24,494 directly held shares, was converted into the right to receive $23.00 in cash consideration. Reich’s reported common stock position after the transaction is 0 shares.
Stock options covering 5,000, 10,500, and 9,068 shares of common stock, with exercise prices of $14.49, $14.87, and $7.77 per share, respectively, were also disposed of and converted into rights to receive $23.00 per underlying share minus the applicable exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 24,494 shares
Net Sell
4 txns
Insider
Reich Robin S
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Common Stock F1 | 24,494 | -- | -- |
Holdings After Transaction:
Stock Options — 0 shares (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
Cash consideration per common share: $23.00
Common shares disposed: 24,494 shares
Post-transaction common stock holdings: 0 shares
+4 more
7 metrics
Cash consideration per common share
$23.00
Each issued and outstanding share of common stock converted into right to receive $23.00 cash
Common shares disposed
24,494 shares
Directly held Affinity Bancshares common stock converted to cash rights in merger
Post-transaction common stock holdings
0 shares
Reich’s reported direct ownership of common stock after merger-related disposition
Option underlying shares tranche 1
5,000 shares
Stock options with $14.49 exercise price converted to $23.00 minus exercise price cash right
Option underlying shares tranche 2
10,500 shares
Stock options with $14.87 exercise price converted to $23.00 minus exercise price cash right
Option underlying shares tranche 3
9,068 shares
Stock options with $7.77 exercise price converted to $23.00 minus exercise price cash right
Stock option exercise prices
$14.49, $14.87, $7.77
Exercise prices for the three option grants converted into cash-settled rights
Key Terms
Agreement and Plan of Merger, cash consideration, stock option, underlying security, +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 issued and outstanding 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.
underlying security financial
"underlying security title: Common Stock and underlying security shares reported"
disposition to issuer regulatory
"transaction code description: Disposition to issuer"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Robin S. Reich report for AFBI?
Robin S. Reich reported disposing of 24,494 directly held shares of Affinity Bancshares common stock, which were converted into the right to receive $23.00 per share in cash under a merger agreement, leaving a reported post-transaction holding of 0 shares.
How were Robin S. Reich’s AFBI stock options treated in the merger?
Reich’s stock options were converted into rights to receive cash equal to $23.00 per underlying share minus the option’s exercise price, covering option grants over 5,000, 10,500, and 9,068 shares with exercise prices of $14.49, $14.87, and $7.77, respectively.
Does Robin S. Reich report any remaining direct AFBI common stock ownership?
Following the merger-related disposition, Reich’s reported direct ownership of Affinity Bancshares common stock is 0 shares. Her previously held 24,494 shares were all converted into the right to receive $23.00 per share in cash consideration under the merger agreement.
Was the AFBI Form 4 transaction under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan, and the footnotes describe the transactions as occurring pursuant to a merger agreement that converted shares and options into cash rights at $23.00 per share.