David R. Melville III - Mar 1, 2025 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: President and CEO, Director
Signature: /s/ Heather Roemer, as attorney-in-fact for David R. Melville III
Stock symbol: BFST
Transactions as of: Mar 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 3/5/2025, 06:11 AM
Previous filing: Dec 16, 2024
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						224K	Mar 1, 2025	Direct	F1, F2, F3

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		+16.3K	+108.87%		31.3K	Mar 1, 2025	Common Stock	16.3K	$0.00	Direct	F4, F5, F6

* 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) 8,216 shares of unvested restricted stock granted on February 1, 2022, which will vest on March 31, 2024, (b) 30,532 shares of restricted stock granted on February 1, 2023, of which 15,038 shares will vest on March 31, 2024 and the remaining 15,494 shares will vest on March 31, 2025, and (c) 29,715 shares of unvested restricted stock granted on February 1, 2024, of which 9,806 shares will vest on March 31, 2024, 9,806 shares will vest on March 31, 2025, and the remaining 10,103 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	Includes units of the employer stock fund through the issuer's 401(k) plan equivalent to approximately 13,786 shares of common stock of the issuer and 96,288 pledged shares of common stock of the issuer.
F4	Reflects the grant of 16,293 time-based restricted stock units granted to the Reporting Person on March 1, 2025, of which 5,376 shares will vest on March 1, 2026, 5,376 shares will vest on March 1, 2027, and the remaining 5,541 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.
F5	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 will receive a lump sum cash distribution in an amount equal to the vested securities deferred under the Deferred Compensation Plan, plus any earnings or losses attributable thereto in accordance with the Deferred Compensation Plan, on the first business day of the month following the month in which the Reporting Person's separation of service, death or disability occurs.
F6	Includes: (a) 14,966 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) 16,293 time-based restricted stock units granted to the Reporting Person on March 1, 2025, of which 5,376 shares will vest on March 1, 2026, 5,376 shares will vest on March 1, 2027, and the remaining 5,541 shares will vest on March 1, 2028.