BayFirst director reports tax withholding of 99 shares

BayFirst Financial Corp. director Barbara J. Zipperian reported a tax-related share disposition, not an open-market sale.

Rhea-AI Filing Summary

BayFirst Financial Corp. director Barbara J. Zipperian reported a tax-related share disposition, not an open-market sale. On May 15, 2026, 99 shares of common stock at $6.49 per share were withheld by the company to cover tax obligations tied to restricted stock awards. After this withholding, she directly holds about 4,985.10 shares, and no option exercises or open-market trades were reported.

Insider Trade Summary

Exercise Price or Tax Liability: 99 shares

Exercise Price or Tax Liability 1 txn

Insider Zipperian Barbara J

Role Director

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	99	$6.49	$642.51

Holdings After Transaction: Common Stock — 4,985.0998 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Shares withheld for taxes: 99 shares Withholding price per share: $6.49 per share Shares held after transaction: 4,985.0998 shares +1 more

4 metrics

Shares withheld for taxes 99 shares Tax withholding on restricted stock awards, May 15, 2026

Withholding price per share $6.49 per share Value used for 99-share tax-withholding transaction

Shares held after transaction 4,985.0998 shares Director’s direct common stock holdings following withholding

Transaction type Tax-withholding disposition (Code F) Payment of tax liability by delivering securities

Key Terms

restricted stock awards (RSAs), tax withholding, net settlement, Common Stock, +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"

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code F financial

"transaction_code_description: "Payment of exercise price or tax liability by delivering securities""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BayFirst Financial Corp. (BAFN) report for Barbara J. Zipperian?

BayFirst reported a tax-related share disposition for director Barbara J. Zipperian. The company withheld 99 common shares to satisfy tax obligations from restricted stock awards, and the filing states this does not represent an open-market sale by her.

How many BayFirst Financial (BAFN) shares were withheld for taxes in this Form 4?

The Form 4 shows 99 shares of BayFirst common stock were withheld. These shares covered tax withholding and remittance obligations arising from net settlement of restricted stock awards, according to the filing’s explanatory footnote.

Did Barbara J. Zipperian sell BayFirst Financial (BAFN) shares on the open market?

No, the filing states the transaction does not represent a sale by Barbara J. Zipperian. The 99 shares were withheld by BayFirst to meet tax obligations associated with restricted stock awards, a routine non-market transaction type.

What are Barbara J. Zipperian’s BayFirst (BAFN) holdings after the tax-withholding transaction?

After the reported tax-withholding transaction, Barbara J. Zipperian directly holds about 4,985.0998 shares of BayFirst common stock. This figure reflects her position immediately following the 99-share withholding recorded in the Form 4.

What does transaction code F mean in the BayFirst (BAFN) Form 4 filing?

Transaction code F in this Form 4 indicates shares were used to pay an exercise price or tax liability. Here, BayFirst withheld 99 shares to satisfy tax withholding and remittance obligations related to restricted stock awards granted to the reporting person.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 02:22 PM EDT Learn about SEC filing dates

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^*

Zipperian Barbara J

(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	4,985.0998	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)