Saundra Strong - 01 Mar 2026 Form 4 Insider Report for Business First Bancshares, Inc. (BFST)

Role
EVP & General Counsel
Signature
/s/ Heather Roemer, as attorney-in-fact for Saundra Strong
Issuer symbol
BFST
Transactions as of
01 Mar 2026
Net transactions value
-$26,317
Form type
4
Filing time
03 Mar 2026, 18:52:43 UTC
Previous filing
16 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Strong Saundra EVP & General Counsel 500 LAUREL STREET, SUITE 101, BATON ROUGE /s/ Heather Roemer, as attorney-in-fact for Saundra Strong 03 Mar 2026 0001889385

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BFST COMMON STOCK Options Exercise +1,338 +20% 8,046 01 Mar 2026 Direct F1, F2
transaction BFST COMMON STOCK Tax liability $8,054 -295 -3.7% $27.30 7,751 01 Mar 2026 Direct F1
transaction BFST COMMON STOCK Disposed to Issuer $18,264 -669 -8.6% $27.30 7,082 01 Mar 2026 Direct F1, 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 Options Exercise -1,338 -20% 5,298 01 Mar 2026 Common Stock 1,338 Direct F2
transaction BFST Restricted Stock Units Award +815 +15% 6,113 02 Mar 2026 Common Stock 815 $0.000000 Direct F4
transaction BFST Restricted Stock Units Award +3,264 +53% 9,377 02 Mar 2026 Common Stock 3,264 $0.000000 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 2,732 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 The reporting person received an award of 4,052 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.
F3 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.
F4 Reflects the grant of 815 time-based restricted stock units granted to the reporting person on March 2, 2026, of which 271 shares will vest on March 2, 2027, 271 shares will vest on March 2, 2028, and the remaining 273 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.
F5 Reflects the grant of 3,264 time-based restricted stock units granted to the reporting person on March 2, 2026, of which 1,088 shares will vest on March 2, 2027, 1,088 shares will vest on March 2, 2028, and the remaining 1,088 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.
F6 Includes: (a) 2,584 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) 2,714 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) 815 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) 3,264 time-based restricted stock units, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date.