BayFirst (BAFN) SVP Rhonda Tudor receives ESOP stock allocation

Rhea-AI Filing Summary

BayFirst Financial Corp. reported an indirect acquisition of common stock for SVP and Chief Accounting Officer Rhonda S. Tudor. An employee stock ownership plan allocated 63.7567 shares of common stock at $13.30 per share to her ESOP account, bringing her indirectly held ESOP shares to 265.1291.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Tudor Rhonda S

Role SVP, Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	63.757	$13.30	$847.96

Holdings After Transaction: Common Stock — 265.129 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^*

Tudor Rhonda S

(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)
	SVP, Chief Accounting 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		63.7567	A	$13.3	265.1291(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 Financial (BAFN) report in this Form 4/A?

BayFirst Financial reported an indirect acquisition of common stock for executive Rhonda S. Tudor. An employee stock ownership plan allocated 63.7567 shares at $13.30, increasing her indirectly held ESOP shares to 265.1291 in total.

Who is the insider involved in the latest BayFirst Financial (BAFN) Form 4/A?

The insider is Rhonda S. Tudor, Senior Vice President and Chief Accounting Officer of BayFirst Financial. She received an allocation of common stock through the company’s employee stock ownership plan, increasing her indirectly held ESOP shares to 265.1291.

How many BayFirst Financial (BAFN) shares were acquired in the ESOP transaction?

The ESOP transaction allocated 63.7567 shares of BayFirst Financial common stock to Rhonda S. Tudor’s account. These shares were priced at $13.30 each and raised her total indirectly held ESOP position to 265.1291 shares of common stock.

Is the BayFirst Financial (BAFN) Form 4/A transaction a direct purchase by the executive?

No, the transaction is reported as indirect ownership through the BayFirst National Bank Employee Stock Ownership Plan. Shares are held by the ESOP and allocated to Rhonda S. Tudor’s account rather than being directly purchased in the open market.

How do BayFirst Financial (BAFN) ESOP shares vest for the reporting person?

The ESOP shares vest based on the reporting person’s Years of Vesting Service, generally a year with at least 1,000 hours worked. According to the disclosure, the shares become fully vested when the reporting person reaches the Normal Retirement Age of 65.

What is the total ESOP share balance for the BayFirst Financial (BAFN) insider after this filing?

After the ESOP allocation reported in this Form 4/A, Rhonda S. Tudor’s account shows 265.1291 shares of BayFirst Financial common stock held indirectly. This reflects the updated balance of shares allocated to her through the employee stock ownership plan.