David R. Melville III - 01 Mar 2026 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role
President and CEO, Director
Signature
/s/ Heather Roemer, as attorney-in-fact for David R. Melville III
Issuer symbol
BFST
Transactions as of
01 Mar 2026
Net transactions value
-$146,765
Form type
4
Filing time
03 Mar 2026, 18:51:21 UTC
Previous filing
16 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
MELVILLE DAVID R. III President and CEO, Director 500 LAUREL STREET, SUITE 101, BATON ROUGE /s/ Heather Roemer, as attorney-in-fact for David R. Melville III 03 Mar 2026 0001734795

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFST COMMON STOCK Options Exercise +5,376 +2.5% 218,557 01 Mar 2026 Direct F1, F2, F3
transaction BFST COMMON STOCK Disposed to Issuer $146,765 -5,376 -2.5% $27.30 213,181 01 Mar 2026 Direct F1, F2, F4

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 Options Exercise -5,376 -20% 20,945 01 Mar 2026 Common Stock 5,376 Direct F3
transaction BFST Restricted Stock Units Award +3,280 +16% 24,225 02 Mar 2026 Common Stock 3,280 $0.000000 Direct F5
transaction BFST Restricted Stock Units Award +13,121 +54% 37,346 02 Mar 2026 Common Stock 13,121 $0.000000 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 10,103 shares of unvested restricted stock granted on February 1, 2024, which will vest on March 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.
F2 Includes units of the employer stock fund through the issuer's 401(k) plan equivalent to approximately 13,786 shares of common stock of the issuer and 96,288 pledged shares of common stock of the issuer.
F3 The reporting person received an award of 16,293 time-based restricted stock units on March 1, 2025, vesting in three substantially equal installments on the first, second, and third anniversary of the issuance date.
F4 These shares were acquired upon the partial vesting of the previously reported time-based restricted stock units granted to the reporting person on March 1, 2025. 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, on the first business day following the month in which the reporting person's separation of service, death, or disability occurs.
F5 Reflects the grant of 3,280 time-based restricted stock units granted to the reporting person on March 2, 2026, of which 1,093 shares will vest on March 2, 2027, 1,093 shares will vest on March 2, 2028, and the remaining 1,094 shares will vest on March 2, 2029. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer.
F6 Reflects the grant of 13,121 time-based restricted stock units granted to the reporting person on March 2, 2026, of which 4,373 shares will vest on March 2, 2027, 4,373 shares will vest on March 2, 2028, and the remaining 4,375 shares will vest on March 2, 2029. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer. The reporting person has irrevocably elected to defer the reported securities under 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, on the first business day following the month in which the reporting person's separation of service, death, or disability occurs.
F7 Includes: (a) 10,028 time-based restricted stock units granted to the reporting person on December 12, 2024, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (b) 10,917 time-based restricted stock units granted to the reporting person on March 1, 2025, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (c) 3,280 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date; and (d) 13,121 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date.