Margaret Singer Lee - 31 Mar 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
Issuer symbol: BFST
Transactions as of: 31 Mar 2023
Net transactions value: -$33,335
Form type: 4
Filing time: 04 Apr 2023, 16:17:53 UTC
Previous filing: 03 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	COMMON STOCK	Tax liability	$33,335	-1,946	-9.6%	$17.13	18,256	31 Mar 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) 1,441 shares of unvested restricted stock granted on 2/1/2022, which will vest on 3/31/2024, and (b) 7,140 shares of restricted stock granted on 2/1/2023, of which 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

Includes (a) 1,441 shares of unvested restricted stock granted on 2/1/2022, which will vest on 3/31/2024, and (b) 7,140 shares of restricted stock granted on 2/1/2023, of which 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.