---
schema_version: "secwatch.filing_event.v1"
accession: "0001649739-26-000042"
form_type: "8-K"
ticker: "BAFN"
cik: "0001649739"
company_name: "BayFirst Financial Corp."
filed_at: "2026-07-16T14:05:45+00:00"
generated_at: "2026-07-16T14:07:21.895249+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BayFirst Financial Corp. shareholder approves exchange; Kenneth R. Lehman acquires 42.38% stake

## Summary
- Shareholders approved issuance of common stock upon conversion of Series D and Series E preferred (2,401,615 for, 910,047 against).
- Amendment to increase authorized common shares from 15M to 100M approved (3,239,088 for, 67,417 against).
- Kenneth R. Lehman exchanged 4,000 Series E preferred shares for 11,428,000 common shares, now holding 42.38% of outstanding.
- Lehman entitled to designate one board member; intends to serve as director on both company and bank boards.
- Special Meeting had 80.9% quorum; no adjournment needed.

## SEC filing metadata
- accession: 0001649739-26-000042
- form_type: 8-K
- ticker: BAFN
- cik: 0001649739
- company_name: BayFirst Financial Corp.
- filed_at: 2026-07-16T14:05:45+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.01, 5.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000042/0001649739-26-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649739/000164973926000042/bafn-20260714.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649739-26-000042
- JSON: https://secwatch.observer/filing/0001649739-26-000042.json
- Plain text: https://secwatch.observer/filing/0001649739-26-000042.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.