# EDGAR Filing Document

**Accession Number:** 0001885445
**File Stem:** 0001649739-23-000012
**Filing Date:** 2023-1
**Character Count:** 7536
**Document Hash:** 920cc1fce552965cb5c6e03a1b1a3f61
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001649739-23-000012.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001649739-23-000012

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230124

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Winner Harold Jack
- **CENTRAL INDEX KEY:** 0001885445

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41068
- **FILM NUMBER:** 23552523

**MAIL ADDRESS:**
- **STREET 1:** 700 CENTRAL AVE
- **CITY:** ST PETERSBURG
- **STATE:** FL
- **ZIP:** 33701
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BayFirst Financial Corp.
- **CENTRAL INDEX KEY:** 0001649739
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 593665079
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 700 CENTRAL AVENUE
- **STREET 2:** SUITE 102
- **CITY:** ST PETERSBURG
- **STATE:** FL
- **ZIP:** 33701
- **BUSINESS PHONE:** 727-399-5600

**MAIL ADDRESS:**
- **STREET 1:** 700 CENTRAL AVENUE
- **STREET 2:** SUITE 102
- **CITY:** ST PETERSBURG
- **STATE:** FL
- **ZIP:** 33701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Home Bancorp Inc
- **DATE OF NAME CHANGE:** 20150731

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] 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**<sup>*</sup><br>Winner Harold Jack<br><sub>(Last) (First) (Middle)</sub><br>700 CENTRAL AVE<br><sub>(Street)</sub><br>ST. PETERSBURG, FL 33701<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-24 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>BayFirst Financial Corp. [ BAFN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock |  |  |  |  |  |  |  | 49485.4028 | D |  |
| Common Stock |  |  |  |  |  |  |  | 2300 | I | Winner Family Living Trust UTD 6-13-18 |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Option (Right to Buy) | $14.67 |  |  |  |  |  |  | <sup>(1)</sup> | 2031-01-14 | Common Stock | 5100.0 |  | 5100 | D |  |
| Option (Right to Buy) | $15.67 |  |  |  |  |  |  | <sup>(2)</sup> | 2030-01-15 | Common Stock | 5250.0 |  | 5250 | D |  |
| Option (Right to Buy) | $17.33 |  |  |  |  |  |  | <sup>(3)</sup> | 2028-06-12 | Common Stock | 8100.0 |  | 8100 | D |  |
| Option (Right to Buy) | $14.67 |  |  |  |  |  |  | <sup>(4)</sup> | 2029-03-15 | Common Stock | 5250.0 |  | 5250 | D |  |
| Series B Convertible Preferred Stock | <sup>(5)</sup> |  |  |  |  |  |  | 2021-11-15 | 2030-09-30 | Common Stock | 130.0 |  | 130 | I | Winner Family Living Trust UTD 6-13-18 |
| Series B Convertible Preferred Stock | <sup>(5)</sup> |  |  |  |  |  |  | 2021-11-15 | 2030-10-01 | Common Stock | 100.0 |  | 100 | I | Winner Family Living Trust UTD 6-13-18 |

---

### Footnotes:

(1) These options vest in three equal annual installments beginning one year after the 1/14/2021 date of grant.

(2) These options vest in three equal annual installments beginning one year after the 1/15/2020 date of grant.

(3) These options vest in three equal annual installments beginning one year after the 6/12/2018 date of grant.

(4) These options vest in three equal annual installments beginning one year after the 3/15/2019 date of grant.

(5) The holders of shares of Series B Convertible Preferred Stock have the right to convert such shares into shares of common stock at a conversion ratio equal to the quotient of: (i) the $1,000 liquidation preference; divided by (ii) the tangible book value per share of common stock, calculated on the basis of BayFirst Financial Corp.s financial statements, as of the last day of the calendar quarter occurring prior to the date on which a holder exercises the conversion right; provided, however, that tangible book value shall be adjusted to reflect a subsequent quarter end only on the last day of the month succeeding such quarter end.

**Signature:** /s/ Barbara Felts, Attorney-in-fact  
**Date:** 2023-01-25

### Remarks:

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.**