BayFirst Financial (BAFN) ESOP grants stock to President and COO

Rhea-AI Filing Summary

BayFirst Financial Corp. reported that President and COO Oliver Robin Leigh indirectly acquired common stock through an employee stock ownership plan. On this Form 4/A, 101.2515 shares of common stock were granted and allocated to his ESOP account at a price of $13.30 per share, bringing his indirect ESOP-held stake to 1,084.1673 shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Oliver Robin Leigh

(Last) (First) (Middle)

700 CENTRAL AVE

(Street)

ST. PETERSBURG FL 33701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BayFirst Financial Corp. [ BAFN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, COO

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)
03/07/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/31/2024		A		101.2515	A	$13.3	1,084.1673(1)	I	By ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares held by the BayFirst Natioanl Bank Employee Stock Ownership Plan ("ESOP") and allocated to the Reporting Person's account. The shares vest based on your Year of Vesting Service (generally a year in which the Reporting Person works at least 1,000 hours). The shares will become fully vested upon your attainment of Normal Retirement Age of 65.

Remarks:

	/s/ Barbara Felts, Attorney-in-fact	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did BayFirst Financial Corp. (BAFN) report for Oliver Robin Leigh?

BayFirst Financial reported that President and COO Oliver Robin Leigh indirectly acquired 101.2515 shares of common stock. The shares were granted and allocated to his account in the company’s employee stock ownership plan at a price of $13.30 per share.

How many BayFirst Financial (BAFN) shares does Oliver Robin Leigh hold after this ESOP grant?

After the reported ESOP grant, Oliver Robin Leigh indirectly holds 1,084.1673 shares of BayFirst Financial common stock. These shares are held through the company’s employee stock ownership plan and are allocated to his individual ESOP account.

What was the size and price of the ESOP award reported for BayFirst Financial (BAFN)?

The filing shows an award of 101.2515 shares of BayFirst Financial common stock. The shares were allocated at a transaction price of $13.30 per share under the company’s employee stock ownership plan structure.

How is Oliver Robin Leigh’s ownership in BayFirst Financial (BAFN) classified in this transaction?

The ownership is classified as indirect because the shares are held by the BayFirst National Bank Employee Stock Ownership Plan. They are allocated to Oliver Robin Leigh’s ESOP account rather than being held directly in his personal name.

How do BayFirst Financial (BAFN) ESOP shares vest for Oliver Robin Leigh?

According to the filing, ESOP shares allocated to Oliver Robin Leigh vest based on Years of Vesting Service, generally years with at least 1,000 hours worked. The shares become fully vested when he reaches the plan’s Normal Retirement Age of 65.

Is the BayFirst Financial (BAFN) Form 4/A transaction a market purchase or a grant?

The Form 4/A describes the transaction as a grant or award acquisition, not a market purchase. The common stock was allocated through the BayFirst National Bank Employee Stock Ownership Plan to Oliver Robin Leigh’s account at the stated transaction price.