KEITH MANSFIELD - 31 Mar 2023 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: EVP&COO of b1Bank
Signature: /s/ Heather Roemer, as attorney-in-fact for Keith Mansfield
Issuer symbol: BFST
Transactions as of: 31 Mar 2023
Net transactions value: -$61,274
Form type: 4
Filing time: 04 Apr 2023, 16:19:16 UTC
Previous filing: 03 Feb 2023
Next filing: 11 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	COMMON STOCK	Tax liability	$61,274	-3,577	-6.2%	$17.13	54,227	31 Mar 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes (a) 3,116 shares of unvested restricted stock granted on 2/1/2022, which will vest on 3/31/2024, and (b) 10,838 shares of restricted stock granted on 2/1/2023, of which 5,338 shares will vest on 3/31/2024 and the remaining 5,500 shares will vest on 3/31/2025. Under the terms of the relevant restricted stock grants, the reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events.
F2	Includes 5,000 shares held by reporting person's IRA.

Content

Includes (a) 3,116 shares of unvested restricted stock granted on 2/1/2022, which will vest on 3/31/2024, and (b) 10,838 shares of restricted stock granted on 2/1/2023, of which 5,338 shares will vest on 3/31/2024 and the remaining 5,500 shares will vest on 3/31/2025. Under the terms of the relevant restricted stock grants, the reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events.

Includes 5,000 shares held by reporting person's IRA.