BayFirst BAFN officer reports RSA tax withholding on Form 4

Rhea-AI Filing Summary

BayFirst Financial Corp. (BAFN) reported an insider equity transaction by its SVP and Chief Accounting Officer, Rhonda Tudor, on a Form 4. On 10/24/2025, 228 shares of BayFirst common stock were disposed of at $9.41 per share, coded as transaction type “F”, which indicates shares withheld to cover taxes on equity compensation.

The filing explains that these shares were withheld by the company to satisfy tax withholding and remittance obligations related to the net settlement of restricted stock awards, and that this does not represent a sale by the insider. After this transaction, Tudor beneficially owns 1,514.5155 shares of BayFirst common stock directly.

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^*

Tudor Rhonda S

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/24/2025

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

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	10/24/2025		F(1)		228	D	$9.41	1,514.5155	D

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. Represents shares that have been withheld by the Issuer to satisfy its tax withholding and remittance obligations in connection with the net settlement of restricted stock awards (RSAs) and does not represent a sale by the Reporting Person.

Remarks:

	Rhonda Tudor	11/25/2025
	** 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 in this Form 4?

The Form 4 reports that SVP and Chief Accounting Officer Rhonda Tudor had 228 shares of BayFirst common stock disposed of on 10/24/2025 at $9.41 per share, coded as an “F” transaction for tax withholding.

Does the reported BayFirst (BAFN) Form 4 represent an open-market sale by the insider?

No. The explanation states the 228 shares were withheld by the issuer to satisfy tax withholding and remittance obligations related to restricted stock awards and do not represent a sale by the reporting person.

How many BayFirst (BAFN) shares does the insider own after this Form 4 transaction?

Following the reported transaction, Rhonda Tudor beneficially owns 1,514.5155 shares of BayFirst Financial Corp. common stock, held with direct ownership.

What is the role of the reporting person in BayFirst Financial Corp. (BAFN)?

The reporting person, Rhonda Tudor, is an officer of BayFirst Financial Corp., serving as SVP, Chief Accounting Officer, as indicated in the Form 4.

What does transaction code “F” mean in this BayFirst (BAFN) Form 4 filing?

Transaction code “F” on Form 4 indicates shares were withheld by the issuer to satisfy tax withholding obligations in connection with equity awards, rather than being sold in the open market.

Is this BayFirst (BAFN) Form 4 filed by one or multiple reporting persons?

The filing is indicated as a Form filed by One Reporting Person, namely officer Rhonda Tudor.