BayFirst (BAFN) CFO gains ESOP stock award allocation

Rhea-AI Filing Summary

BayFirst Financial Corp. executive vice president and chief financial officer Scott Joseph McKim reported an indirect acquisition of common stock through an employee benefit plan. On December 31, 2024, 90.8311 shares at $13.3000 per share were allocated to his account under the BayFirst National Bank Employee Stock Ownership Plan.

These 90.8311 shares are held by the ESOP and allocated to his account, with vesting tied to years of service and full vesting at a normal retirement age of 65.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McKim Scott Joseph

Role EVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	90.831	$13.30	$1K

Holdings After Transaction: Common Stock — 90.831 shares (Indirect, By ESOP)

Footnotes (1)

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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^*

McKim Scott Joseph

(Last) (First) (Middle)

700 CENTRAL AVE

(Street)

ST. PETERSBURG FL 33701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BayFirst Financial Corp. [ BAFN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)
03/07/2025

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	12/31/2024		A		90.8311	A	$13.3	90.8311(1)	I	By ESOP

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. Shares held by the BayFirst Natioanl Bank Employee Stock Ownership Plan ("ESOP") and allocated to the Reporting Person's account. The shares vest based on your Year of Vesting Service (generally a year in which the Reporting Person works at least 1,000 hours). The shares will become fully vested upon your attainment of Normal Retirement Age of 65.

Remarks:

	/s/ Barbara Felts, Attorney-in-fact	03/09/2026
	** 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 BayFirst (BAFN) report for Scott Joseph McKim?

BayFirst EVP and CFO Scott Joseph McKim reported an indirect acquisition of 90.8311 common shares. The shares were allocated to his account under the BayFirst National Bank Employee Stock Ownership Plan at $13.3000 per share on December 31, 2024, as part of an award.

How many BayFirst (BAFN) shares were allocated to the CFO through the ESOP?

A total of 90.8311 BayFirst common shares were allocated to Scott Joseph McKim’s account. These shares are held by the BayFirst National Bank Employee Stock Ownership Plan and represent his indirect ownership interest through that employee benefit arrangement.

At what price were the BayFirst (BAFN) ESOP shares credited to the CFO?

The ESOP allocation to Scott Joseph McKim used a price of $13.3000 per BayFirst common share. This price applies to the 90.8311 shares credited to his account under the BayFirst National Bank Employee Stock Ownership Plan on December 31, 2024.

Is the BayFirst (BAFN) CFO’s ownership direct or indirect for this stock award?

The reported ownership for this stock award is indirect. The 90.8311 BayFirst common shares are held by the BayFirst National Bank Employee Stock Ownership Plan and allocated to Scott Joseph McKim’s ESOP account, rather than being held directly in his personal brokerage account.

How do the BayFirst (BAFN) ESOP shares for the CFO vest over time?

The ESOP shares allocated to Scott Joseph McKim vest based on his Years of Vesting Service. Generally, a year counts when he works at least 1,000 hours, and the shares become fully vested when he reaches the normal retirement age of 65.

What is the total BayFirst (BAFN) stock balance reported after this ESOP allocation?

Following this ESOP allocation, the total indirect BayFirst common stock reported for Scott Joseph McKim through the ESOP is 90.8311 shares. This figure reflects his holdings via the BayFirst National Bank Employee Stock Ownership Plan after the December 31, 2024 transaction.