BayFirst Financial Corp. (BAFN) filed an 8-K on September 24, 2026, announcing the amendment of employment agreements for two of its senior executive officers.
The Company, along with BayFirst National Bank, entered into a revised Employment Agreement with Robin L. Oliver, the Executive Vice President and Chief Operating Officer. The agreement has an initial term that expires on August 1, 2029, with automatic one-year renewals on subsequent August 1sts unless notice of non-renewal is provided. Ms. Oliver will receive a minimum annual salary of $350,000 and is eligible for employee benefit plans. She is also entitled to specific stock grants and cash incentive payments contingent on continued employment and performance. The agreement includes two-year, post-termination non-solicitation obligations regarding customers and employees. In the event of a termination, including a change in control, Ms. Oliver is entitled to a cash payment equal to 200% of her current base salary and average cash bonus from the preceding two years.
Separately, the Company, the Bank, and their Executive Vice President, Chief Financial Officer, and principal financial officer, Scott J. McKim, entered into a revised Employment Agreement. Like the Oliver agreement, this document has an initial term expiring August 1, 2029, with automatic one-year renewals thereafter. Mr. McKim will receive a minimum annual salary of $325,000 and is eligible for the Bank’s and Company’s employee benefit plans. He is also entitled to specific stock grants and cash incentive payments based on employment and performance. The agreement includes two-year, post-termination non-solicitation obligations for customers and employees. Upon a termination, including a change in control, Mr. McKim is entitled to a cash payment equal to 200% of his current base salary and average cash bonus for the preceding two years.
The full text of the Employment Agreements is included as Exhibits 10.1 and 10.2 to the filing.
