BayFirst Financial signs new employment agreements for COO and CFO

BayFirst Financial Corp. filed a Form 8-K on September 24, 2026, disclosing revised employment agreements for its Executive Vice President and Chief Operating Officer, Robin L. Oliver, and its Executive Vice President and Chief Financial Officer, Scott J. McKim. The Nasdaq-listed bank holding company detailed the terms of these contracts, which set specific compensation levels and severance protections for both executives through 2029.

The agreement with Robin L. Oliver, who serves as the company's COO, establishes a minimum annual salary of $350,000. The initial term of her contract runs until August 1, 2029, after which it automatically extends for one-year periods unless either party provides notice of non-renewal. Oliver remains eligible to participate in employee benefit plans and programs offered by BayFirst Financial Corp. or BayFirst National Bank. Her compensation package also includes specific stock grants and cash incentive payments contingent on continued employment and performance metrics tied to both her individual results and the Bank's overall performance.

Similar structural terms apply to the agreement with Scott J. McKim, the company's CFO and principal financial officer. McKim will receive a minimum annual salary of $325,000 under his revised contract. Like Oliver's deal, McKim's agreement expires on August 1, 2029, with automatic one-year extensions thereafter absent notice of non-renewal. He is also eligible for the same employee benefit plans and performance-based stock grants and cash incentives.

Both executives are subject to two-year post-termination non-solicitation obligations regarding customers and employees. The filings specify that upon certain termination events, including a change in control, each executive is entitled to a cash payment equal to 200% of their then-current base salary plus their average cash bonus for the preceding two years. The company noted that these summaries are qualified by the full text of the employment agreements, which are filed as Exhibits 10.1 and 10.2 to the Form 8-K. The report was signed by Scott J. McKim on September 29, 2026.