Warren McDonald - Feb 1, 2022 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: Chief Credit Officer
Signature: /s/ Heather Roemer, as attorney-in-fact for Warren McDonald
Stock symbol: BFST
Transactions as of: Feb 1, 2022
Transactions value $: $110,148
Form type: 4
Date filed: 2/3/2022, 03:02 PM
Previous filing: Aug 16, 2021
Next filing: Apr 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	Common Stock	Award	$110K	+4.06K	+47.37%	$27.13	12.6K	Feb 1, 2022	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Reflects the grant of restricted stock to reporting person. The terms of the restricted stock grant are described in footnote 2 below.
F2	Includes (a) 472 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, (b) 1,294 shares of unvested restricted stock granted on 2/1/2021, 637 shares of which will vest on 3/31/2022 and the remaining 657 shares will vest on 3/31/2023, and (c) 4,060 shares of unvested restricted stock granted on 2/1/2022, of which 1,340 shares will vest on 3/31/2022, 1,340 shares will vest on 3/31/2023, and the remaining 1,380 shares will vest on 3/31/2024. 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

Reflects the grant of restricted stock to reporting person. The terms of the restricted stock grant are described in footnote 2 below.

Includes (a) 472 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, (b) 1,294 shares of unvested restricted stock granted on 2/1/2021, 637 shares of which will vest on 3/31/2022 and the remaining 657 shares will vest on 3/31/2023, and (c) 4,060 shares of unvested restricted stock granted on 2/1/2022, of which 1,340 shares will vest on 3/31/2022, 1,340 shares will vest on 3/31/2023, and the remaining 1,380 shares will vest on 3/31/2024. 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.