Director Barbara J. Zipperian of BayFirst Financial Corp. filed a Form 4 on November 9, 2026, reporting a conversion of Series C Cumulative Convertible Preferred Stock into 824 shares of common stock on November 6, 2026.

Key Highlights

  • Reporting person: Barbara J. Zipperian, Director of BayFirst Financial Corp. (NASDAQ:BAFN)
  • Transaction date: November 6, 2026, coded as a conversion (transaction code C)
  • Shares acquired: 824 shares of common stock acquired upon conversion of 3 shares of Series C Cumulative Convertible Preferred Stock
  • Conversion ratio: According to the filing, the company issued approximately 274.7253 common shares for each share of preferred stock converted
  • Resulting ownership: 10,905.0998 shares of common stock held directly following the transaction
  • Preferred stock remaining: 0 shares of Series C Cumulative Convertible Preferred Stock beneficially owned following the transaction

Zipperian's Preferred Stock Conversion Details at BayFirst Financial

According to the Form 4 filed with the SEC on November 9, 2026, Barbara J. Zipperian, a director of BayFirst Financial Corp. (NASDAQ:BAFN), reported a conversion of Series C Cumulative Convertible Preferred Stock into common stock on November 6, 2026. The filing identifies the transaction with code "C," indicating a conversion of derivative securities into the underlying common shares.

The filing states that Zipperian acquired 824 shares of common stock upon the conversion of 3 shares of Series C Cumulative Convertible Preferred Stock. As explained in the filing's footnote: "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." The Series C Cumulative Convertible Preferred Stock carried an expiration date of November 30, 2033, with a date exercisable noted as November 30, 2023.

Following the reported transaction, the filing discloses that Zipperian directly beneficially owns 10,905.0998 shares of common stock and holds 0 remaining shares of Series C Cumulative Convertible Preferred Stock. No price is listed for the conversion transaction in the filing. The Form 4 was signed by Barbara Felts as attorney-in-fact on November 9, 2026.

What Was Disclosed

Director Barbara J. Zipperian converted 3 shares of BayFirst Financial's Series C Cumulative Convertible Preferred Stock into 824 shares of common stock on November 6, 2026, at a ratio of approximately 274.7253 common shares per preferred share, leaving her with 10,905.0998 common shares directly held.