Alexander Harris
About Alexander Harris
Alexander Harris, age 44, is an independent director of BayFirst Financial Corp. (BAFN) serving since 2021. He is CEO of the Arts Conservatory for Teens (ACT) and has prior academic and consulting experience at the University of South Florida; his education includes an Ed.D. from Nova Southeastern University (organizational leadership/curriculum), master’s degrees in Theological Studies and Social Work from Boston University, and a B.A. from LaGrange College in Human Services, Social Work, and Sociology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of South Florida | Lecturer, Creative Strategist, Consultant | Previously; dates not disclosed | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Arts Conservatory for Teens (ACT) | Chief Executive Officer | Current | Non-profit headquartered in St. Petersburg, FL |
| Three Oak Doors Enterprises, LLC | Senior Executive Consultant & Creative Strategist | Current | Consulting role |
Board Governance
- Committee assignments: Member, Corporate Social Responsibility (CSR) Committee; no chair roles listed for Harris .
- Independence: Board determined a majority are independent; non-independent directors are Politis (family lease), Zernick and Oliver (executives), and Leo (employee/special advisor). Harris is not among the exceptions and is treated as independent under Nasdaq rules .
- Attendance and engagement: In 2024, the Board met nine times; all directors attended at least 75% of Board and committee meetings, and all then-current directors attended the 2024 Annual Meeting .
- Subsidiary board: Harris serves on the Bank board (BayFirst National Bank), as all Company directors except Mark S. Berset are Bank directors .
Fixed Compensation
| Year | Cash Fees Earned | Stock Awards (Grant-Date Fair Value) | Total |
|---|---|---|---|
| 2024 | $27,500 | $10,823 | $38,323 |
| Fee Component | Amount | Notes |
|---|---|---|
| Board meeting fee (Company) | $1,500 per meeting | Applies to Company board meetings |
| Bank board meeting fee | $1,500 per meeting | Applies to separate Bank board meetings |
| Committee meeting fees | $500 per meeting (Audit & Risk, Compensation, CSR, ALCO, Compliance) | Applies across listed committees |
| Chair retainers | Board/Bank Chair: $22,500; Audit Chair: $10,000; Nominating Chair: $7,500; ALCO Chair: $7,500; Compensation Chair: $7,500; CSR Chair: $5,000 | Harris is not a chair |
Performance Compensation
| Component | 2024 Value | Grant Timing/Policy | Performance Metrics |
|---|---|---|---|
| Stock awards | $10,823 | Equity grants made in Feb 2024, four days after year-end earnings release; Board developing grant-timing policy to avoid spring-loading; grants only in open trading windows and when not in possession of MNPI | No director performance metrics disclosed; director equity appears time-based, not performance-based |
| Option awards | None disclosed for directors in 2024 | N/A | N/A |
The EIP covers officers, employees, directors, advisors, and consultants; up to 15% of shares outstanding, cap 1,500,000 shares .
Other Directorships & Interlocks
| Category | Company/Institution | Role | Notes |
|---|---|---|---|
| Public company boards | None disclosed | — | Proxy biography lists no public company directorships for Harris |
| Subsidiary board | BayFirst National Bank | Director | Bank board comprises all Company directors except Mark S. Berset |
| Non-profit/private roles | Arts Conservatory for Teens | CEO | Non-profit leadership; not a public issuer board |
| Non-profit/private roles | Three Oak Doors Enterprises, LLC | Senior Executive Consultant & Creative Strategist | Consulting role |
Expertise & Qualifications
- Organizational leadership and curriculum development expertise (Ed.D., Nova Southeastern), with social work/theology grounding (Boston University), and human services/social work/sociology background (LaGrange College) .
- Managerial/CEO experience at ACT and familiarity with underserved communities in BayFirst’s markets; Board cites this community knowledge as qualification .
Equity Ownership
| Item | Amount | Definition |
|---|---|---|
| Beneficial ownership (shares) | 5,598.49 | Includes shares with sole/shared voting/investment power and retirement plan holdings |
| Right to acquire within 60 days | 3,750.00 | Stock options/warrants exercisable within 60 days of March 24, 2025 |
| Ownership % of outstanding | 0.23% | Based on 4,129,027 shares outstanding |
- Hedging restrictions: Directors, officers, and employees are prohibited from trading in puts/calls or short selling Company securities .
- Stock purchase plan: Directors may buy shares via fee deductions under the Non-Qualified Stock Purchase Plan (no discount for directors) .
Insider Trades (Section 16)
| Item | Status |
|---|---|
| Section 16(a) compliance (2024) | No late filings disclosed for Harris; one late Form 4 disclosed for director Anthony Leo |
Related-Party Transactions & Conflicts
- No Harris-specific related-party transactions are disclosed; overall related-party exposures include leases with entities affiliated with Director Politis’s family ($691,862 paid; $228,315 family beneficial interest) and insurance purchases from Comegys Insurance (owned by Directors Mark and Derek Berset and family; $373,688 paid; $369,951 beneficial interest), with approval and limits under the Insider Transactions Policy .
- Insider loan balances to directors/executives and immediate families totaled ~$9.26 million (0.87% of loan portfolio) at year-end 2024; all current and on terms comparable to non-affiliates, requiring disinterested director approval .
Governance Assessment
- Strengths: Harris is an independent director with strong community leadership credentials and CSR committee membership aligned to social impact oversight; attendance standards met; no Harris-specific related-party exposures; hedging is prohibited, and directors may accumulate stock via fee deductions .
- Alignment: Harris holds 5,598.49 shares plus 3,750 options exercisable within 60 days (0.23% of outstanding), and receives modest annual equity grants ($10,823) alongside meeting-based cash fees—typical of small-cap bank director pay, with time-based equity rather than performance-conditioned awards .
- Watch items: Board-level related-party transactions (leases/insurance) introduce governance sensitivity even if managed under policy; ongoing clarity on director equity grant timing and avoidance of spring-loading is positive but should be formalized via the anticipated grant-timing policy .
Overall investor confidence signal: Harris’s independence, CSR focus, and attendance support board effectiveness; lack of disclosed conflicts for Harris is favorable, while broader board related-party dealings warrant continued monitoring and robust disinterested oversight .