[Form 4] Banzai International, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Banzai International (BNZI): Form 4 insider activity — CP BF Lending, LLC and Brad Shain reported a note conversion and same‑day sale. A convertible note was converted into 62,700 shares of Class A common stock on 11/06/2025, then 62,700 shares were sold at a weighted average price of $2.8056 per share.

Following these transactions, the filing shows 4 shares of Class A common stock beneficially owned directly. The derivative table lists 2,682,070 derivative securities beneficially owned following the reported transaction.

Footnotes add context: a 1‑for‑10 reverse split occurred on July 8, 2025; on October 10, 2025, the convertible note’s conversion price was amended to 95% of the prior trading day’s share price, subject to a $2.50 floor; the note’s maturity date is February 19, 2027.

Insights

Capital markets and insider transactions analyst

Administrative insider activity with mechanical conversion and sale.

The filing records a conversion of a convertible note into 62,700 BNZI Class A shares at a weighted average price tied to market trades, followed by a sale of the same 62,700 shares at a weighted average of $2.8056. Post‑trade, direct non‑derivative holdings are reported as 4 shares, while derivative securities beneficially owned are listed as 2,682,070.

The note terms were amended on October 10, 2025 to set the conversion price at 95% of the prior trading day’s price, with a $2.50 floor, and a maturity of February 19, 2027. The July 8, 2025 1‑for‑10 reverse split adjusted reported amounts.

This is routine reporting of insider activity. Actual market impact depends on future holder decisions under the amended conversion mechanics; timing is not stated in the excerpt.

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^*

CP BF Lending, LLC

(Last) (First) (Middle)

1910 FAIRVIEW AVE E

SUITE 300

(Street)

SEATTLE WA 98102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Banzai International, Inc. [ BNZI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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

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

	Form filed by One Reporting Person
X	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
Class A Common Stock	11/06/2025		C		62,700	A	$2.8056(1)	62,704(2)(3)	D
Class A Common Stock	11/06/2025		S		62,700	D	$2.8056(1)	4(2)(3)	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
Convertible Note	$2.8056(1)(4)	11/06/2025		C			62,700	10/10/2024	02/19/2027(5)	Class A Common Stock	62,700	$0	2,682,070(1)(3)(4)	D

1. Name and Address of Reporting Person^*

CP BF Lending, LLC

(Last) (First) (Middle)

1910 FAIRVIEW AVE E

SUITE 300

(Street)

SEATTLE WA 98102

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Shain Brad

(Last) (First) (Middle)

1910 FAIRVIEW AVE. SUITE 200

(Street)

SEATTLE WA 98105

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported is the weighted average price of multiple trades at prices ranging from $2.5095 to $2.8916 per share, inclusive. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each price within the reported range. The convertible note converted at the same prices as these trades.

2. Brad Shain may be deemed to have beneficial ownership of the shares held directly by CP BF Lending, LLC. Mr. Shain disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

3. On July 8, 2025, the Issuer effectuated a 1-for-10 reverse split of the Issuer's Class A common stock, resulting in proportionate adjustments to the number of shares beneficially owned by the Reporting Person. Accordingly, the securities reported herein have been adjusted to reflect the reverse stock split.

4. On October 10, 2025, the Issuer and the Reporting Person agreed to amend the convertible note to, among other things, reduce the conversion price to a price equal to 95% of the price of the Class A common stock on the trading day immediately preceding delivery of any conversion notice, subject to a floor price of $2.50. Accordingly, the convertible note reported herein has been adjusted to reflect the floor price.

5. The maturity date of the convertible note will be February 19, 2027 or, if earlier, the date on which the consolidated convertible loan becomes due and payable pursuant to the terms of the convertible note or any other loan document.

	CP BF Lending, LLC, By: /s/ Brad Shain, President	11/10/2025
	By: /s/ Brad Shain	11/10/2025
	** 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 did BNZI insiders report on Form 4?

They reported converting a note into 62,700 shares of Class A common stock on 11/06/2025 and selling 62,700 shares at a weighted average price of $2.8056.

How many BNZI shares are shown as beneficially owned after the transactions?

The filing shows 4 shares of Class A common stock beneficially owned directly after the reported transactions.

What derivative securities remain after the transaction?

The filing lists 2,682,070 derivative securities beneficially owned following the reported transaction.

Were there recent changes to the BNZI convertible note terms?

Yes. On October 10, 2025, the conversion price was amended to 95% of the prior day’s price, subject to a $2.50 floor.

When does the BNZI convertible note mature?

The maturity date is February 19, 2027, or earlier if due under the note or related loan documents.

Did BNZI conduct a reverse stock split?

Yes. A 1‑for‑10 reverse split occurred on July 8, 2025, and reported amounts were adjusted accordingly.