Norman Jerome Vascocu Jr - Mar 1, 2025 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: President of b1Bank
Signature: /s/ Heather Roemer, as attorney-in-fact for Norman Jerome Vascocu, Jr.
Stock symbol: BFST
Transactions as of: Mar 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 3/5/2025, 06:08 AM
Previous filing: Feb 14, 2025
Next filing: Apr 2, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BFST	COMMON STOCK						25.9K	Mar 1, 2025	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BFST	Restricted Stock Units	Award		+8.05K	+105.09%		15.7K	Mar 1, 2025	Common Stock	8.05K	$0.00	Direct	F3, F4, F5

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

Explanation of Responses:

Id	Content
F1	No transaction is being reported at this time. This line is only reporting holdings as of the date hereof.
F2	Includes: (a) 5,500 shares of unvested restricted stock granted on February 1, 2023, which will vest on March 31, 2025, and (b) 7,442 shares of unvested restricted stock granted on February 1, 2024, of which 3,666 shares will vest on March 31, 2025, and the remaining 3,776 shares will vest on March 31, 2026. 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.
F3	Reflects the grant of 8,047 time-based restricted stock units granted to the Reporting Person on March 1, 2025, of which 2,655 shares will vest on March 1, 2026, 2,655 shares will vest on March 1, 2027, and the remaining 2,737 shares will vest on March 1, 2028. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer.
F4	The Reporting Person has irrevocably elected to defer the reported securities under the b1BANK Deferred Compensation Plan (the "Deferred Compensation Plan"). In accordance with the Deferred Compensation Plan, the Reporting Person has elected to receive cash in an amount equal to the vested securities under the Deferred Compensation Plan, plus any earnings or losses attributable thereto in accordance with the Deferred Compensation Plan, distributed in equal annual installments over a 10-year period commencing on the first business day of the month following the month in which the Reporting Person's separation of service occurs.
F5	Includes: (a) 7,657 time-based restricted stock units granted to the Reporting Person on December 12, 2024, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date; and (b) 8,047 time-based restricted stock units granted to the Reporting Person on March 1, 2025, of which 2,655 shares will vest on March 1, 2026, 2,655 shares will vest on March 1, 2027, and the remaining 2,737 shares will vest on March 1, 2028.