Director at Bank First (BFC) sells 16,000 shares but keeps large stake

Rhea-AI Filing Summary

Bank First Corp director Eldred Steven M reported selling a total of 16,000 shares of Bank First common stock in two open-market transactions. On 02/06/2026, he sold 8,000 shares at $145.02 each, and on 02/11/2026, he sold another 8,000 shares at $151.95 each.

After these sales, he directly owns 125,680 common shares. He also has indirect beneficial ownership through trusts holding 31,065, 11,287, and 14,424 shares, indicating he continues to hold a significant stake in the company.

Insider Trade Summary

Net Seller: 16,000 shares ($2,375,760)

Net Sell 5 txns

Insider Eldred Steven M

Role Director

Sold 16,000 shs ($2.38M)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,000	$151.95	$1.22M
Sale	Common Stock	8,000	$145.02	$1.16M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 125,680 shares (Direct); Common Stock — 31,065 shares (Indirect, Trust)

Footnotes (1)

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^*

Eldred Steven M

(Last) (First) (Middle)

402 NORTH 8TH STREET

(Street)

MANITOWOC WI 54220

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bank First Corp [ BFC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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	02/06/2026		S		8,000	D	$145.02	133,680	D
Common Stock	02/11/2026		S		8,000	D	$151.95	125,680	D
Common Stock								31,065	I	Trust
Common Stock								11,287	I	Trust
Common Stock								14,424	I	Trust

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:

	/s/ Kelly Dvorak, attorney-in-fact	02/12/2026
	** 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 Eldred Steven M report for Bank First Corp (BFC)?

Eldred Steven M reported selling 16,000 Bank First Corp common shares in two open-market trades. He sold 8,000 shares on 02/06/2026 and another 8,000 shares on 02/11/2026, as reflected in his Form 4 insider filing with the SEC.

At what prices did the Bank First Corp (BFC) director sell his shares?

The director sold 8,000 Bank First Corp shares at $145.02 on 02/06/2026 and 8,000 shares at $151.95 on 02/11/2026. These were reported as open-market sales of common stock on his Form 4 filing.

How many Bank First Corp (BFC) shares does the director still own directly after the sales?

Following the reported transactions, the director directly owns 125,680 Bank First Corp common shares. This direct holding is disclosed in the Form 4 as the amount beneficially owned after the two open-market sales totaling 16,000 shares.

Does the Bank First Corp (BFC) director have any indirect or trust holdings?

Yes. In addition to his direct holdings, the director has indirect beneficial ownership through trusts holding 31,065, 11,287, and 14,424 Bank First Corp common shares. These trust positions are reported as indirect ownership on the Form 4.

What role does Eldred Steven M hold at Bank First Corp (BFC)?

Eldred Steven M is reported as a director of Bank First Corp. The Form 4 indicates his relationship to the issuer as a director, with no officer title or 10% owner status checked in the filing.

What type of SEC form reported these Bank First Corp (BFC) insider transactions?

The transactions were reported on a Form 4, which insiders use to disclose changes in beneficial ownership of a company’s securities. This form details the dates, amounts, prices, and post-transaction holdings for the director’s Bank First Corp common stock.