Director Deloach Dennis Reppard III filed a Form 4 with the SEC on November 9, 2026, disclosing a conversion of Series C Cumulative Convertible Preferred Stock into common shares of BayFirst Financial Corp. (NASDAQ:BAFN) on November 6, 2026.

Key Highlights

  • Transaction type: Code "J" acquisition via conversion of derivative security, dated November 6, 2026.
  • Preferred shares converted: 500 shares of Series C Cumulative Convertible Preferred Stock were converted, leaving 0 derivative shares held directly.
  • Common shares received: 137,362 common shares were acquired upon conversion, at a rate of approximately 274.7253 common shares per preferred share, according to the filing.
  • Resulting ownership: Following the transaction, the reporting person beneficially owned 206,676.6366 shares of common stock, held directly.
  • No cash price reported: The filing lists no purchase price for the common shares received; the transaction is recorded as a conversion.
  • Preferred share terms: The Series C preferred carried an exercise date of September 30, 2023, and an expiration date of September 30, 2033, per the filing.

Director Reppard Converts Series C Preferred Into BayFirst Common Stock

According to the Form 4 filed on November 9, 2026, Deloach Dennis Reppard III, identified as a director of BayFirst Financial Corp., completed a transaction on November 6, 2026, in which 500 shares of Series C Cumulative Convertible Preferred Stock were converted into 137,362 shares of BayFirst common stock. The filing reports no cash consideration for the shares received; the transaction code is listed as "J" for the common stock acquisition and "C" for the derivative disposal.

The filing's explanation of responses states: "The reporting person acquired the common shares upon the conversion of shares Series C Cumulative Convertible Preferred Stock. For each share of preferred stock, the Company issued approximately 274.7253 common shares." Following the reported transaction, the filing discloses that Reppard directly held 206,676.6366 shares of BayFirst common stock and zero shares of the Series C preferred.

The Form 4 was signed by Barbara Felts as attorney-in-fact on behalf of the reporting person. The filing was submitted individually, not as a group filing. BayFirst Financial Corp. is listed on NASDAQ under the symbol BAFN.

What Was Disclosed

Director Deloach Dennis Reppard III reported a conversion of 500 Series C Cumulative Convertible Preferred shares into 137,362 BayFirst common shares on November 6, 2026, resulting in direct beneficial ownership of 206,676.6366 common shares and zero remaining preferred shares.