BayFirst Financial (NASDAQ: BAFN) CEO converts Series D preferred to common
Rhea-AI Filing Summary
BayFirst Financial Corp. disclosed that CEO & President Rogers Alfred Tate Jr., indirectly through ATRJR IRA, LLC, ATRJR, LLC, BASS COLLECTIVE, LLC and ATRJR ROTH, LLC, converted Series D Preferred Stock into common stock, including 52 preferred shares into 148,564 common and 98 preferred shares into 279,986 common. The company states that on July 14, 2025 shareholders approved converting all outstanding Series D shares and, upon conversion, all Series D Preferred Stock was retired.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Rogers Alfred Tate Jr
Role
CEO & President
Sold
1,142,800 shs
Approx. gross sale proceeds
$0.00
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series D Preferred Stock F1, F2 | 52 | -- | -- |
| Conversion | Series D Preferred Stock F1, F2 | 98 | -- | -- |
| Conversion | Series D Preferred Stock F1, F2 | 8 | -- | -- |
| Conversion | Series D Preferred Stock F1, F2 | 242 | -- | -- |
| Sale | Common Stock F1 | 148,564 | -- | -- |
| Sale | Common Stock F1 | 279,986 | -- | -- |
| Sale | Common Stock F1 | 22,856 | -- | -- |
| Sale | Common Stock F1 | 691,394 | -- | -- |
Holdings After Transaction:
Series D Preferred Stock — 0 shares (Indirect, ATRJR IRA, LLC);
Series D Preferred Stock — 0 shares (Indirect, ATRJR, LLC);
Series D Preferred Stock — 0 shares (Indirect, BASS COLLECTIVE, LLC);
Series D Preferred Stock — 0 shares (Indirect, ATRJR ROTH, LLC);
Common Stock — 148,564 shares (Indirect, ATRJR IRA, LLC);
Common Stock — 279,986 shares (Indirect, ATRJR, LLC);
Common Stock — 22,856 shares (Indirect, BASS COLLECTIVE, LLC);
Common Stock — 691,394 shares (Indirect, ATRJR ROTH, LLC)
Footnotes (2)
- F1. On July 14, 2025, the Company obtained shareholder approval to convert all outstanding shares of Series D Preferred Stock to shares of common stock and consummated the conversion.
- F2. Upon conversion, all shares of Series D Preferred Stock were retired.
Key Figures
Series D Preferred converted (total): 400 shares
Common shares via ATRJR IRA, LLC: 148,564 shares
Common shares via ATRJR, LLC: 279,986 shares
+2 more
5 metrics
Series D Preferred converted (total)
400 shares
Total Series D Preferred Stock shares converted to common across four derivative transactions
Common shares via ATRJR IRA, LLC
148,564 shares
Common stock underlying 52 Series D Preferred shares converted and indirectly held through ATRJR IRA, LLC
Common shares via ATRJR, LLC
279,986 shares
Common stock underlying 98 Series D Preferred shares converted and indirectly held through ATRJR, LLC
Common shares via BASS COLLECTIVE, LLC
22,856 shares
Common stock underlying 8 Series D Preferred shares converted and indirectly held through BASS COLLECTIVE, LLC
Common shares via ATRJR ROTH, LLC
691,394 shares
Common stock underlying 242 Series D Preferred shares converted and indirectly held through ATRJR ROTH, LLC
Key Terms
Series D Preferred Stock, conversion of derivative security, indirect ownership, retired, +1 more
5 terms
Series D Preferred Stock financial
"convert all outstanding shares of Series D Preferred Stock to shares of common stock"
Series D preferred stock is a specific class of preferred shares typically issued in a later-stage financing round that gives holders special rights such as priority for payout before common shareholders, fixed or cumulative dividends, and often the option to convert into common shares. Investors care because these shares affect who gets paid first in a sale or liquidation, influence ownership and voting power, and change how future fundraising or an exit will impact an investor’s return—like a VIP ticket that can sometimes be exchanged for a regular ticket if that proves more valuable.
conversion of derivative security financial
"transaction code description "Conversion of derivative security" for Series D Preferred"
indirect ownership financial
"shares reported as indirectly owned through ATRJR IRA, LLC and other LLC entities"
retired financial
"Upon conversion, all shares of Series D Preferred Stock were retired"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider equity changes did BayFirst Financial (BAFN) report for its CEO?
BayFirst reported that CEO Rogers Alfred Tate Jr., via several LLCs, converted Series D Preferred Stock into common shares. The transactions reflect indirect holdings in ATRJR IRA, LLC, ATRJR, LLC, BASS COLLECTIVE, LLC and ATRJR ROTH, LLC following a company-wide preferred-to-common conversion.
What did ATRJR, LLC report in the BayFirst (BAFN) Form 4 conversion?
ATRJR, LLC converted 98 Series D Preferred shares into 279,986 common shares indirectly linked to CEO Rogers Alfred Tate Jr. After this conversion, its Series D Preferred balance reported in the filing was reduced to zero, replaced by the stated common stock position.
When did BayFirst (BAFN) obtain approval to convert Series D Preferred Stock?
The company states that on July 14, 2025, it obtained shareholder approval to convert all outstanding shares of Series D Preferred Stock to common stock and consummated the conversion, after which all Series D Preferred shares referenced in the filing were retired.