Margaret Singer Lee - Mar 31, 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: Mar 31, 2023
Transactions value $: -$33,335
Form type: 4
Date filed: 4/4/2023, 04:17 PM
Previous filing: Feb 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFST	COMMON STOCK	Tax liability	-$33.3K	-1.95K	-9.63%	$17.13	18.3K	Mar 31, 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.