Bayfirst Financial (BAFN)Kenneth R. Lehman disclosed a 39.4% stake in BAFN and may seek to influence the company 39.4%

39.4%

Stake

12.2M

Shares owned

Stake as of

Oct 8, 2026

Filed

Oct 13, 2026

The story around this disclosure

Every dated public record OQRO holds about the company from 60 days before to 120 days after, oldest first. It shows what was going on; none of it is a stated reason for the trade.

1. Aug 13, 2026Company filing · Form 8-K · Results, Reg FDReported its results, and shared information with investors
2. Aug 26, 2026Company filing · Form 8-K · Executive changeChanged a top executive or board member“On August 26, 2026, Director Anthony Leo notified the Board of Directors of BayFirst Financial Corp. ("Company") and its wholly-owned subsidiary, BayFirst National Bank (the "Bank"), of his decision to resign from the Boards of Directors of the Company and the Bank effective August 26, 2026.”
3. Sep 24, 2026Company filing · Form 8-K · Executive changeChanged a top executive or board member“On September 24, 2026, BayFirst Financial Corp. (the “Company”), BayFirst National Bank (the “Bank”), and their Executive Vice President and Chief Operating Officer, Robin L. Oliver, entered into a revised Employment Agreement.”

What came next

1. Oct 13, 20265% stakeKenneth R. Lehman filed an activist stake (13D) of 39.4%
2. Oct 19, 20265% stakeKenneth R. Lehman filed an activist stake (13D) of 39.2%

How to read SEC Schedule 13D

A Schedule 13D and a Schedule 13G both disclose beneficial ownership of more than 5% of a US company's voting shares. A 13D is the long form, filed by holders who may seek to influence or control the company, and it must state what they intend to do. A 13G is the short form, open only to passive holders and to certain institutions holding in the ordinary course of business, and it asks no question about intent.

Full guide: Schedule 13D vs Schedule 13G: what is the difference?

What else is on file for Bayfirst Financial

For Bayfirst Financial, OQRO holds 1 fund holdings report (13F) dated in the last 90 days.

These are records OQRO holds, counted by their date, not a measure of how much trading took place. Routine paperwork such as option exercises and tax withholding is left out. Everything for the company is on its BAFN page.

How this filing works

• Schedule 13D vs 13G

Other disclosures at Bayfirst Financial

• SEC Form 4May 22, 2025
• SEC Form 4May 2, 2025
• SEC Form 4Feb 10, 2025

Everything OQRO holds on this company is on its BAFN page.