William G. Hall - Jun 26, 2025 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: Director
Signature: /s/ Heather Roemer, as attorney-in-fact for William G. Hall
Stock symbol: BFST
Transactions as of: Jun 26, 2025
Transactions value $: $0
Form type: 4
Date filed: 6/30/2025, 07:46 PM
Previous filing: Nov 18, 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Hall William G.	Director	500 LAUREL STREET, SUITE 101, BATON ROUGE	/s/ Heather Roemer, as attorney-in-fact for William G. Hall	2025-06-30	0002040034

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BFST	COMMON STOCK						20K	Jun 26, 2025	Direct	F1, F2
holding	BFST	COMMON STOCK						14.9K	Jun 26, 2025	By: Align Opportunities, LP	F1, F3, F4

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		+1.02K			1.02K	Jun 26, 2025	Common Stock	1.02K	$0.00	Direct	F5
transaction	BFST	Stock Options (Right to Buy)	Award	$0	+511		$0.00	511	Oct 1, 2024	Common Stock	511	$24.45	Direct	F6
transaction	BFST	Stock Options (Right to Buy)	Award	$0	+767		$0.00	767	Oct 1, 2024	Common Stock	767	$24.45	Direct	F6
transaction	BFST	Stock Options (Right to Buy)	Award	$0	+767		$0.00	767	Oct 1, 2024	Common Stock	767	$24.45	Direct	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 June 26, 2025.
F2	Includes 72 shares currently being held in escrow pursuant to the Agreement and Plan of Reorganization (the "Reorganization Agreement") by and between the issuer and Oakwood Bancshares, Inc. ("Oakwood").
F3	Includes 3,550 shares currently being held in escrow pursuant to the Reorganization Agreement by and between the issuer and Oakwood.
F4	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
F5	Reflects the grant of time-based restricted stock units granted to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 26, 2025. The time-based restricted stock units will fully vest on June 26, 2026. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer. Under the terms of the relevant restricted stock unit grant, the reported unvested restricted stock units are subject to forfeiture upon the occurrence of certain events.
F6	The stock options (right to buy) were granted to the reporting person on October 1, 2024, pursuant to the Reorganization Agreement by and between the issuer and Oakwood.