BayFirst (BAFN) director reports 99-share tax withholding, holds ~70K shares

Rhea-AI Filing Summary

BayFirst Financial Corp. director Derek Steven Berset reported a tax-related share disposition. On May 15, 2026, 99 shares of common stock were withheld at $6.49 per share to cover tax obligations tied to restricted stock awards. This was not an open-market sale, and Berset now directly holds about 70,233 shares of BayFirst common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Berset Derek Steven

Role null

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	99	$6.49	$642.51

Holdings After Transaction: Common Stock — 70,233.191 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Tax-withheld shares: 99 shares Withholding price: $6.49 per share Post-transaction holdings: 70,233.1905 shares +1 more

4 metrics

Tax-withheld shares 99 shares Shares withheld to satisfy tax obligations on RSAs

Withholding price $6.49 per share Value used for tax-withholding disposition on May 15, 2026

Post-transaction holdings 70,233.1905 shares Direct BayFirst common stock held after tax withholding

Tax-withholding transactions 1 transaction, 99 shares Summary of tax-withholding activity in this Form 4

Key Terms

restricted stock awards (RSAs), tax withholding, net settlement, Form 4, +1 more

5 terms

restricted stock awards (RSAs) financial

"in connection with the net settlement of restricted stock awards (RSAs)"

tax withholding financial

"withheld by the Issuer to satisfy its tax withholding and remittance obligations"

Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.

net settlement financial

"in connection with the net settlement of restricted stock awards (RSAs)"

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

disposition financial

"transaction_action": "tax-withholding disposition""

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Berset Derek Steven

(Last) (First) (Middle)

700 CENTRAL AVE

(Street)

ST. PETERSBURG FLORIDA 33701

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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

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

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

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	05/15/2026		F(1)		99	D	$6.49	70,233.1905	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:

	/s/ Barbara Felts, Attorney-in-fact	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did BayFirst Financial Corp. (BAFN) report for Derek Steven Berset?

BayFirst reported that director Derek Steven Berset had 99 common shares withheld to cover tax obligations on restricted stock awards. The shares were not sold on the open market but retained by the issuer for tax remittance.

How many BayFirst (BAFN) shares were involved in Derek Berset's latest Form 4 filing?

The filing shows 99 BayFirst common shares were disposed of through tax withholding. These shares were used to satisfy tax obligations arising from restricted stock awards rather than representing a traditional market sale by the director.

Was Derek Berset’s BayFirst (BAFN) Form 4 transaction an open-market sale?

No, the Form 4 footnote states the 99 shares were withheld by BayFirst to satisfy tax withholding and remittance obligations. It explicitly clarifies this does not represent a sale by Derek Berset in the open market.

What is Derek Berset’s BayFirst (BAFN) shareholding after the reported tax withholding?

Following the tax-withholding transaction, Derek Berset directly holds about 70,233.1905 BayFirst common shares. This figure reflects his updated direct ownership after the issuer withheld 99 shares to meet tax obligations on restricted stock awards.

What does the F transaction code mean in Derek Berset’s BayFirst (BAFN) Form 4?

The F code indicates a disposition to pay an exercise price or tax liability by delivering securities. In this case, 99 BayFirst shares were withheld to cover tax obligations on restricted stock awards, rather than being sold in an open-market transaction.