Greg Robertson - May 4, 2023 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: EVP and CFO
Signature: /s/ Heather Roemer, as attorney-in-fact for Gregory Robertson
Stock symbol: BFST
Transactions as of: May 4, 2023
Transactions value $: $102,411
Form type: 4
Date filed: 5/12/2023, 04:05 PM
Previous filing: Apr 4, 2023
Next filing: Jan 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	Common Stock	Small acquisition under Rule 16a-6	$6.88K	+511	+0.96%	$13.47	53.7K	May 4, 2023	Direct	F1, F2
transaction	BFST	Common Stock	Purchase	$95.5K	+6.78K	+12.61%	$14.10	60.5K	May 11, 2023	Direct	F1

* 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	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.44 to $13.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or Commission staff, upon request, full information regarding the number of shares sold at each separate price within this range.

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.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.44 to $13.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or Commission staff, upon request, full information regarding the number of shares sold at each separate price within this range.