Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock is traded on the Nasdaq Capital Market under the symbol “BYFC.”
The closing sale price for our common stock on the Nasdaq Capital Market on March 18, 2026 was $7.68 per share. As of March 18, 2026, we had 3,708 registered
stockholders. As of March 18, 2026, we had 6,206,166 shares of Class A voting common stock outstanding, 1,425,404 shares of Class B non‑voting common stock outstanding and 1,672,562 shares of Class C non-voting stock outstanding. Our non‑voting
common stock (Class B and Class C) is not listed for trading on the Nasdaq Capital Market, but our Class C stock is convertible into our voting common stock in connection with certain sale or other transfer transactions.
In general, we may pay dividends out of funds legally available for that purpose at such times as our Board determines that dividend payments are
appropriate, after considering our net income, capital requirements, financial condition, alternate investment options, prevailing economic conditions, industry practices and other factors deemed to be relevant at the time. We suspended our prior
policy of paying regular cash dividends in May 2010 in order to retain capital for reinvestment in the Company’s business.
Unregistered Sales of Equity Securities
None.
Repurchases of Equity Securities
None.
Equity Compensation Plan Information
The following table provides information about the Company’s common stock that may be issued under equity compensation plans as of December 31, 2025.
Plan category
Number of
securities to be
issued upon exercise
of outstanding
options, warrants
and rights
(a)
Weighted average
exercise price of
outstanding options,
warrants and rights
(b)
Number of securities
remaining available for
future issuance under
equity compensation
plans (excluding securities
reflected in column (a))
(c)
Equity compensation plans approved by security holders:
2008 Long Term Incentive Plan
–
$
–
–
2018 Long Term Incentive Plan
12,500
12.96
281,958
Equity compensation plans not approved by security holders:
None
–
–
–
Total
12,500
$
12.96
281,958
In March 2025 and May 2024, the Company awarded 23,232 and 19,832 shares of common stock, respectively, to its directors under the Amended and Restated LTIP,
which are fully vested. The Company recorded $168 thousand and $96 thousand of compensation expense in the years ended December 31, 2025 and December 31, 2024, respectively, based on the fair value of the stock on the date of the award.
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On March 26, 2025 and May 28, 2025, the Company issued a total of 96,478 shares of restricted stock to its officers and employees under the Amended and
Restated LTIP, of which 17,048 shares have been forfeited as of December 31, 2025. Each restricted stock award was valued based on the fair value of the stock on the date of the award. These awarded shares of restricted stock fully vest over
periods ranging from 36 months to 48 months from their respective dates of grant. Stock-based compensation is recognized on a straight-line basis over the vesting period. During the year ended December 31, 2025, the Company recorded $114 thousand
of stock-based compensation expense related to these restricted stock awards.
ITEM 6.
RESERVED
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.