Margaret Singer Lee - Feb 1, 2023 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, 2023
Transactions value $: $221,026
Form type: 4
Date filed: 2/3/2023, 04:33 PM
Previous filing: Apr 4, 2022
Next filing: Apr 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	COMMON STOCK	Award	$221K	+10.7K	+111.65%	$20.74	20.2K	Feb 1, 2023	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) 1,655 shares of unvested restricted stock granted on 2/1/2021, which will vest on 3/31/2023, (b) 2,880 shares of unvested restricted stock granted on 2/1/2022, of which 1,439 shares will vest on 3/31/2023 and the remaining 1,441 shares will vest on 3/31/2024, and (c) 10,657 shares of restricted stock granted on 2/1/2023, of which 3,517 shares will vest on 3/31/2023, 3,517 shares will vest on 3/31/2024, and the remaining 3,623 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.

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) 1,655 shares of unvested restricted stock granted on 2/1/2021, which will vest on 3/31/2023, (b) 2,880 shares of unvested restricted stock granted on 2/1/2022, of which 1,439 shares will vest on 3/31/2023 and the remaining 1,441 shares will vest on 3/31/2024, and (c) 10,657 shares of restricted stock granted on 2/1/2023, of which 3,517 shares will vest on 3/31/2023, 3,517 shares will vest on 3/31/2024, and the remaining 3,623 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.