Margaret Singer Lee - Feb 1, 2022 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: EVP,Chief HR Officer of b1BANK
Signature: /s/ Heather Roemer, as attorney-in-fact for Margaret Singer Lee
Stock symbol: BFST
Transactions as of: Feb 1, 2022
Transactions value $: $117,174
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	$117K	+4.32K	+66.63%	$27.13	10.8K	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) 913 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, (b) 3,262 shares of unvested restricted stock granted on 2/1/2021, 1,607 shares of which will vest on 3/31/2022 and the remaining 1,655 shares will vest on 3/31/2023, and (c) 4,319 shares of unvested restricted stock granted on 2/1/2022, of which 1,425 shares will vest on 3/31/2022, 1,425 shares will vest on 3/31/2023, and the remaining 1,469 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) 913 shares of unvested restricted stock granted on 2/1/2020, which will vest on 3/31/2022, (b) 3,262 shares of unvested restricted stock granted on 2/1/2021, 1,607 shares of which will vest on 3/31/2022 and the remaining 1,655 shares will vest on 3/31/2023, and (c) 4,319 shares of unvested restricted stock granted on 2/1/2022, of which 1,425 shares will vest on 3/31/2022, 1,425 shares will vest on 3/31/2023, and the remaining 1,469 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.