Business First (NASDAQ: BFST) director plans 20,000-share sale

Rhea-AI Filing Summary

Business First Bancshares, Inc. (BFST) received an amended Rule 144 notice from director George W. Cummings III for a proposed sale of up to 20,000 shares of common stock through Raymond James & Associates, with an aggregate market value of $560,055.64 and an approximate sale date of February 25, 2026 on NASDAQ.

The filing states that Cummings acquired 358,775 common shares on January 1, 2026 from the issuer in connection with the merger of Progressive Bancorp, Inc. with and into Business First Bancshares, in exchange for 54,114 Progressive Bancorp, Inc. shares. Shares of Business First Bancshares outstanding were 29,615,370 as of this notice.

Key Figures

Shares to be sold: 20,000 shares of common stock Aggregate market value: $560,055.64 Shares outstanding: 29,615,370 shares +4 more

7 metrics

Shares to be sold 20,000 shares of common stock Proposed sale under Rule 144 through Raymond James & Associates

Aggregate market value $560,055.64 Aggregate market value of 20,000 BFST shares proposed to be sold

Shares outstanding 29,615,370 shares Business First Bancshares common shares outstanding

Shares acquired in merger 358,775 shares of common stock BFST shares acquired on January 1, 2026 in the Progressive Bancorp merger

Progressive Bancorp shares exchanged 54,114 shares Progressive Bancorp, Inc. shares exchanged for BFST shares in the merger

Approximate sale date February 25, 2026 Approximate date of sale for the 20,000 BFST shares

Date of notice August 28, 2026 Date on which the amended Rule 144 notice was signed

Key Terms

Rule 144, aggregate market value, Securities to be Sold, merger

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

aggregate market value financial

"Common | Raymond James & Associates ... | 20000 | 560055.64 |"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

Securities to be Sold financial

"144/A: Securities To Be Sold"

merger financial

"Merger with Progressive Bancorp, Inc."

A merger is when two companies combine into a single business, with ownership and control reorganized so they operate as one entity. For investors it matters because mergers can change the value and risk of holdings—shares may be exchanged, diluted, or rise if the combined company saves costs or gains market power, and the deal often depends on regulatory approval and successful integration like two households joining resources and routines.

FAQ

What does the Form 144/A filing involve for BFST?

The filing reports that director George W. Cummings III filed an amended Rule 144 notice for a proposed sale of up to 20,000 BFST common shares through Raymond James & Associates, with an aggregate market value of $560,055.64, expected around February 25, 2026.

How many Business First Bancshares (BFST) shares does the director plan to sell?

The director’s amended notice covers a proposed sale of up to 20,000 shares of Business First Bancshares common stock, to be sold through Raymond James & Associates on NASDAQ.

What is the reported market value of the BFST shares covered by this Form 144/A?

The notice lists an aggregate market value of $560,055.64 for the 20,000 BFST common shares that may be sold under this Rule 144 filing.

When were the BFST shares in this Form 144/A acquired?

The filing states that 358,775 BFST common shares were acquired on January 1, 2026 in a merger transaction with Progressive Bancorp, Inc., in exchange for 54,114 Progressive Bancorp, Inc. shares.

How many BFST shares are outstanding according to this Form 144/A?

The notice reports that 29,615,370 shares of Business First Bancshares common stock were outstanding as of the information provided in the filing.

What prior filing does this BFST Form 144/A amendment change?

The remarks state that this amendment amends and supersedes the prior notice filed on February 25, 2026, and that Table 1 (Securities to be Sold) has been amended.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/28/2026 - 03:15 PM Accepted by SEC EDGAR 08/28/2026 - 03:14 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144/A

144/A: Filer Information

Filer CIK	0002106698
Filer CCC	XXXXXXXX
Previous Accession Number Of The Filing	0001974078-26-000072
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144/A: Issuer Information

Name of Issuer	Business First Bancshares, Inc.
SEC File Number	001-38447
Address of Issuer	500 LAUREL STREET SUITE 101 BATON ROUGE TEXAS 70801
Phone	225-248-7600
Name of Person for Whose Account the Securities are To Be Sold	Cummings George W. III
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144/A: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	20000	560055.64	29615370	02/25/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144/A: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/01/2026	Merger with Progressive Bancorp, Inc.	Issuer			358775	01/01/2026	Acquired in exchange for 54,114 shares of Progressive Bancorp, Inc. in connection with the merger of Progressive with and into the Issuer.

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144/A: Securities Sold During The Past 3 Months

Nothing to Report

144/A: Remarks and Signature

Remarks	This Form 144/A amends and supersedes the Form 144 filed on February 25, 2026. Table 1 (Securities to be Sold) has been amended.
Date of Notice	08/28/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ George W. Cummings III
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)