Alicia Robertson - Mar 31, 2021 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: EVP - b1BANK
Signature: /s/ Heather Roemer, as attorney-in-fact for Alicia Robertson
Stock symbol: BFST
Transactions as of: Mar 31, 2021
Transactions value $: -$9,428
Form type: 4
Date filed: 8/26/2021, 08:18 AM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	Common Stock	Tax liability	-$9.43K	-394	-3.11%	$23.93	12.3K	Mar 31, 2021	Direct	F1

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

Alicia Robertson is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Includes (a) 1,081 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, and (b) 2,959 shares of unvested restricted stock granted on 2/1/2021, 1,457 shares of which will vest on 3/31/2022 and the remaining 1,502 shares will vest on 3/31/2023. 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.

Content

Includes (a) 1,081 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, and (b) 2,959 shares of unvested restricted stock granted on 2/1/2021, 1,457 shares of which will vest on 3/31/2022 and the remaining 1,502 shares will vest on 3/31/2023. 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.