Philip Jordan - Dec 12, 2024 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role: EVP&CBO of b1Bank
Signature: /s/ Heather Roemer, as attorney-in-fact for Philip Jordan
Stock symbol: BFST
Transactions as of: Dec 12, 2024
Transactions value $: $0
Form type: 4
Date filed: 12/16/2024, 04:08 PM
Previous filing: Apr 16, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BFST	COMMON STOCK						77.1K	Dec 12, 2024	Direct	F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BFST	Restricted Stock Units (Deferred Stock Award 12/12/2024)	Award	$0	+5.56K		$0.00	5.56K	Dec 12, 2024	Common Stock	5.56K		Direct	F4, F5

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

Explanation of Responses:

Id	Content
F1	No transaction is being reported at this time. This line is only reporting holdings as of the date hereof.
F2	Includes (a) 5,500 shares of unvested restricted stock granted on 2/1/2023, which will vest on 3/31/2025, and (b) 7,442 shares of unvested restricted stock granted on 2/1/2024, of which 3,666 shares will vest on 3/31/2025, and the remaining 3,776 shares will vest on 3/31/2026. 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.
F3	Includes shares held by reporting person's IRA and units of employer stock fund through issuer's 401(k) plan equivalent to approximately 13,003 shares of common stock of the issuer.
F4	Reflects time-based restricted stock units granted to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan (the "Incentive Plan") on December 12, 2024. The time-based restricted stock units will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer.
F5	The reporting person has irrevocably elected to defer the reported securities under the b1BANK Deferred Compensation Plan (the "Deferred Compensation Plan"). In accordance with the Deferred Compensation Plan, the reporting person will receive a lump sum cash distribution in an amount equal to the vested securities deferred under the Deferred Compensation Plan, plus any earnings or losses attributable thereto in accordance with the Deferred Compensation Plan, on the first business day of the month following the month in which the reporting person's separation of service, death or disability occurs.