BFST Director Receives 1,016 RSUs; Holds 183,057 Shares 鈥� Form 4

Q: How many BFST shares does Director Joseph Vernon Johnson now own?

He directly owns 183,057 common shares plus 1,016 unvested RSUs as of 26 June 2025.

Q: Did the director buy or sell any BFST shares in this Form 4?

No. No open-market purchases or sales were reported; only an RSU award and updated holdings.

Q: What are the terms of the new RSU grant disclosed by BFST?

The 1,016 RSUs were granted 26 June 2025, equal to one share each, and fully vest on 26 June 2026.

Q: Is the filing impactful for BFST鈥檚 share count or dilution?

Impact is immaterial; 1,016 shares represent a tiny fraction of BFST鈥檚 total shares outstanding.

Q: Why is Form 4 important to investors?

Form 4 shows real-time insider activity; routine grants like this provide insight into governance and alignment.

[Form 4] Business First Bancshares, Inc. Insider Trading Activity

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Business First Bancshares, Inc. (BFST) 鈥� Form 4 insider filing

Director Joseph Vernon Johnson reported his equity position as of 26 June 2025 and disclosed a new equity award.

Holdings: 183,057 shares of BFST common stock held directly; no shares were bought or sold in the reported period.
New award: 1,016 time-based restricted stock units (RSUs) granted on 26 June 2025 under the company鈥檚 2024 Equity Incentive Plan. Each RSU converts 1-for-1 into common stock and fully vests on 26 June 2026. Unvested units are forfeitable under certain conditions.
Filing executed on 30 June 2025 by attorney-in-fact.

No other derivative or non-derivative transactions were reported. The filing primarily updates the director鈥檚 ownership table and documents the routine equity incentive grant.

Positive

Additional equity alignment: Grant of 1,016 RSUs incentivises director performance and strengthens shareholderalignment.

Negative

None.

Insights

TL;DR: Routine RSU grant aligns director incentives; negligible market impact.

The Form 4 signals standard board compensation practice rather than a discretionary share purchase. The 1,016-unit RSU grant鈥攚orth roughly mid-five figures at BFST鈥檚 recent price鈥攔epresents less than 1 % of Johnson鈥檚 existing 183 k share position and an immaterial fraction of BFST鈥檚 ~25 M shares outstanding. Because no open-market buying or selling occurred, the filing does not alter supply-demand dynamics. Nonetheless, it reinforces governance alignment by tying compensation to future share performance through a 12-month vesting schedule. Overall impact to valuation or float is minimal.

06/30/2025 - 07:47 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Johnson Joseph Vernon

(Last)

(First)

(Middle)

500 LAUREL STREET, SUITE 101

(Street)

BATON ROUGE

70801

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Business First Bancshares, Inc. [ BFST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK								183,057⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0	06/26/2025		A		1,016		⁽²⁾	⁽²⁾	Common Stock	1,016	⁽²⁾	1,016	D

Explanation of Responses:

1. No transaction is being reported at this time. This line is only reporting holdings as of June 26, 2025.

2. Reflects the grant of time-based restricted stock units granted to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 26, 2025. The time-based restricted stock units will fully vest on June 26, 2026. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer. Under the terms of the relevant restricted stock unit grant, the reported unvested restricted stock units are subject to forfeiture upon the occurrence of certain events.

	/s/ Heather Roemer, as attorney-in-fact for Joseph Vernon Johnson	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many BFST shares does Director Joseph Vernon Johnson now own?

He directly owns 183,057 common shares plus 1,016 unvested RSUs as of 26 June 2025.

Did the director buy or sell any BFST shares in this Form 4?

No. No open-market purchases or sales were reported; only an RSU award and updated holdings.

What are the terms of the new RSU grant disclosed by BFST?

The 1,016 RSUs were granted 26 June 2025, equal to one share each, and fully vest on 26 June 2026.

Is the filing impactful for BFST鈥檚 share count or dilution?

Impact is immaterial; 1,016 shares represent a tiny fraction of BFST鈥檚 total shares outstanding.

Why is Form 4 important to investors?

Form 4 shows real-time insider activity; routine grants like this provide insight into governance and alignment.

AG真人官方

[Form 4] Business First Bancshares, Inc. Insider Trading Activity

Insights

FAQ

How many BFST shares does Director Joseph Vernon Johnson now own?

Did the director buy or sell any BFST shares in this Form 4?

What are the terms of the new RSU grant disclosed by BFST?

Is the filing impactful for BFST鈥檚 share count or dilution?

Why is Form 4 important to investors?

NASDAQ:BFST

BFST Rankings

BFST Latest News

BFST Latest SEC Filings

BFST Stock Data

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Trending News

[Form 4] Business First Bancshares, Inc. Insider Trading Activity

Insights

Corporate Governance Specialist neutral

FAQ

How many BFST shares does Director Joseph Vernon Johnson now own?

Did the director buy or sell any BFST shares in this Form 4?

What are the terms of the new RSU grant disclosed by BFST?

Is the filing impactful for BFST鈥檚 share count or dilution?

Why is Form 4 important to investors?

NASDAQ:BFST

BFST Rankings

BFST Latest News

BFST Latest SEC Filings

BFST Stock Data