Affinity Bancshares director gets $23.00 a share in merger
Affinity Bancshares director Bob W. Richardson reported dispositions to the issuer on August 1, 2026 in connection with a merger.
Rhea-AI Filing Summary
Affinity Bancshares director Bob W. Richardson reported dispositions to the issuer on August 1, 2026 in connection with a merger. Each share of common stock was converted into the right to receive $23.00 cash consideration, and each stock option into $23.00 less its exercise price.
Richardson disposed of 22,640 common shares held directly and 6,844 shares held indirectly through an IRA, with these positions reduced to zero. He also had stock options covering 5,000, 10,500, and 16,747 underlying shares converted into the same cash-based merger consideration.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 29,484 shares
Disposition
5 txns
Insider
Richardson Bob W.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Stock Options F2 | -- | -- | -- |
| Disposition | Common Stock F1 | 22,640 | -- | -- |
| Disposition | Common Stock F1 | 6,844 | -- | -- |
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
Merger cash consideration per share: $23.00
Common shares disposed (direct): 22,640 shares
Common shares disposed (IRA): 6,844 shares
+3 more
6 metrics
Merger cash consideration per share
$23.00
Each issued and outstanding share of Issuer common stock converted into $23.00 cash consideration
Common shares disposed (direct)
22,640 shares
Common Stock disposed to issuer by director on 2026-08-01
Common shares disposed (IRA)
6,844 shares
Common Stock disposed indirectly through IRA ownership on 2026-08-01
Option exercise price
$14.49
Stock option with 5,000 underlying Common Stock shares at $14.4900 exercise price
Option exercise price
$14.87
Stock option with 10,500 underlying Common Stock shares at $14.8700 exercise price
Option exercise price
$11.14
Stock option with 16,747 underlying Common Stock shares at $11.1400 exercise price
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
"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"
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 disposed indirectly with nature of ownership described as 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 transaction did AFBI director Bob W. Richardson report on August 1, 2026?
Bob W. Richardson reported dispositions to the issuer of his Affinity Bancshares common stock and stock options on August 1, 2026, in connection with a merger that converted his equity holdings into rights to receive cash consideration instead of shares.
What happened to Bob W. Richardson’s AFBI stock options in the merger?
Each of Richardson’s AFBI stock options was converted into a right to receive $23.00 in cash minus its exercise price. This applied to options over 5,000, 10,500, and 16,747 underlying shares with exercise prices of $14.49, $14.87, and $11.14, respectively.
Was Bob W. Richardson’s AFBI Form 4 transaction made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox was not marked as being under a trading plan, and the footnotes describe merger-driven conversions. The reported AFBI dispositions reflect merger consideration mechanics, rather than trades executed pursuant to a Rule 10b5-1 plan.
Which companies were parties to the AFBI merger affecting Bob W. Richardson’s holdings?
The merger agreement involved Affinity Bancshares, Affinity Bank, National Association, Fidelity BancShares (N.C.), Inc., The Fidelity Bank, and TFB Merger Subsidiary, Inc.. This transaction led to AFBI common shares and options being converted into cash rights at $23.00 per share baseline.
AI-generated analysis. How Rhea-AI works. Not financial advice.
