Scott Joseph McKim, EVP and Chief Financial Officer of BayFirst Financial Corp., filed a Form 4 on November 9, 2026, disclosing a conversion of Series C Cumulative Convertible Preferred Stock into 2,747 shares of common stock on November 6, 2026.

Key Highlights

  • Reporting person: Scott Joseph McKim, EVP and Chief Financial Officer of BayFirst Financial Corp.
  • Transaction date: November 6, 2026, involving a conversion (transaction code C) of preferred stock into common stock.
  • Shares acquired: 2,747 shares of common stock acquired upon conversion of 10 shares of Series C Cumulative Convertible Preferred Stock.
  • Conversion ratio: According to the filing, each share of preferred stock was converted at approximately 274.7253 common shares per preferred share.
  • Resulting ownership: Following the transaction, McKim directly holds 8,278.2052 shares of common stock, per the filing.
  • Preferred shares remaining: McKim holds 0 shares of Series C Cumulative Convertible Preferred Stock following the transaction, the filing states.

McKim's Preferred Stock Conversion at BayFirst Financial

According to the Form 4 filed with the SEC on November 9, 2026, Scott Joseph McKim, identified in the filing as EVP and Chief Financial Officer of BayFirst Financial Corp. (NASDAQ:BAFN), reported a transaction on November 6, 2026, in which 10 shares of Series C Cumulative Convertible Preferred Stock were converted into 2,747 shares of common stock. The filing notes that the preferred shares carried an expiration date of September 30, 2033, and became exercisable as of September 30, 2023.

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." No cash price is listed for the transaction, consistent with a conversion rather than an open-market purchase or sale.

Following the reported transaction, McKim's directly held common stock position stood at 8,278.2052 shares, as reported in Table I of the filing. His holdings of Series C Cumulative Convertible Preferred Stock were reduced to zero. The Form 4 was signed by Barbara Felts as attorney-in-fact on November 9, 2026.

What Was Disclosed

McKim's Form 4 disclosed the conversion of 10 preferred shares into 2,747 common shares of BayFirst Financial Corp. on November 6, 2026, resulting in a directly held common stock position of 8,278.2052 shares and zero remaining preferred shares.