Affinity Bancshares director shares converted at $23
Affinity Bancshares, Inc. director Edward P. Stone reported dispositions to the issuer of his reported holdings on August 1, 2026, in connection with an Agreement and Plan of Merger dated March 30, 2026.
Rhea-AI Filing Summary
Affinity Bancshares, Inc. director Edward P. Stone reported dispositions to the issuer of his reported holdings on August 1, 2026, in connection with an Agreement and Plan of Merger dated March 30, 2026. Under that agreement, each common share was converted into the right to receive $23.00 in cash, and each stock option into $23.00 in cash less its exercise price. Stone disposed of 55,281 directly held common shares, 3,000 shares held via an IRA, and the reported stock options; his reported common stock holdings after these transactions were 0 shares.
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Insider Trade Summary
Disposition: 58,281 shares
Disposition
5 txns
Insider
Stone Edward P.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Common Stock F1 | 55,281 | -- | -- |
| Disposition | Common Stock F1 | 3,000 | -- | -- |
Holdings After Transaction:
Stock Options — 0 contracts (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By IRA)
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
Direct common shares disposed: 55,281 shares
IRA common shares disposed: 3,000 shares
+4 more
7 metrics
Cash consideration per common share
$23.00
Each issued and outstanding Affinity Bancshares common share was converted into this cash amount pursuant to the merger agreement.
Direct common shares disposed
55,281 shares
Common stock held directly by Edward P. Stone disposed to the issuer on 2026-08-01.
IRA common shares disposed
3,000 shares
Common stock held indirectly via an IRA disposed to the issuer on 2026-08-01.
Stock options underlying shares
5,000 shares
Underlying common shares subject to stock options with a $14.4900 exercise price converted into a cash right.
Stock options underlying shares
10,500 shares
Underlying common shares subject to stock options with a $14.8700 exercise price converted into a cash right.
Stock options underlying shares
16,747 shares
Underlying common shares subject to stock options with a $11.1400 exercise price converted into a cash right.
Merger agreement date
March 30, 2026
Date of the Agreement and Plan of Merger governing conversion of shares and options into cash rights.
Key Terms
Agreement and Plan of Merger, cash consideration, stock option, IRA
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
"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"
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.
IRA financial
"Common Stock disposition of 3,000.0000 shares held indirectly, By IRA"
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Edward P. Stone report in his AFBI Form 4 filing?
Edward P. Stone reported dispositions of Affinity Bancshares common stock and stock options on August 1, 2026. Pursuant to a merger agreement, his reported shares were converted into the right to receive $23.00 in cash per share and his options into cash less their exercise prices.
Which AFBI stock options held by Stone were affected in the merger?
The filing shows stock options over 5,000, 10,500, and 16,747 underlying common shares with exercise prices of $14.4900, $14.8700, and $11.1400. Each option was converted into the right to receive $23.00 in cash less its exercise price.
Were Stone's AFBI transactions made under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox was not selected, so the reported transactions were not affirmed as being made pursuant to a pre-established trading plan under Rule 10b5-1.
What is the relationship between the AFBI merger and Stone's dispositions?
Footnotes state that, pursuant to the merger agreement, each common share and stock option was converted into rights to receive $23.00 in cash (less exercise price for options). Stone’s reported dispositions reflect this conversion of his Affinity Bancshares equity interests into cash rights.
AI-generated analysis. How Rhea-AI works. Not financial advice.
