Sec Form 4 Filing - Pietrzak John @ CF BANKSHARES INC. - 2021-01-15

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Pietrzak John 2. Issuer Name and Ticker or Trading Symbol CF BANKSHARES INC. [ CFBK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O CF BANKSHARES INC., 7000 NORTH HIGH STREET 3. Date of Earliest Transaction (MM/DD/YY) 01/15/2021 (Street) WORTHINGTON, OH43085 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12520L 109 01/15/2021 A 3,840 ( 1 ) A $ 0 5,490 ( 2 ) I See Footnote ( 3 ) Common Stock 12520L 109 100 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Pietrzak John C/O CF BANKSHARES INC. 7000 NORTH HIGH STREET WORTHINGTON, OH43085 X Signatures /S/ JOHN PIETRZAK 01/20/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents shares of common stock underlying restricted stock awards granted under the Central Federal Corporation 2019 Equity Incentive Plan on January 15, 2021, which are subject to vesting over a three-year period. ( 2 )Includes 1,650 restricted stock awards previously granted under the Central Federal Corporation 2019 Equity Incentive Plan in December 2019, which are subject to vesting over a three-year period from the date of grant. ( 3 )All restricted stock awards were issued to Castle Creek Advisors IV LLC ("Advisors IV"), on behalf of John Pietrzak in his capacity as a member of the Board of Directors of the Issuer. The reporting person disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest in Advisors IV, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks: The reporting person is a managing principal of Castle Creek Capital VII LLC ("CCC VII"), the sole general partner of Castle Creek Capital Partners VII, LP ("Fund VII"). As of January 20, 2021, Fund VII owned 531,299 shares of the Issuer's common stock (the "Fund VII Shares"). The reporting person does not presently have beneficial ownership (as defined in Rule 13d-3 under the Act) of the Fund VII shares. As such, the Fund VII Shares are not included in this Form 4.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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