Business First Bancshares (NASDAQ: BFST) director lines up 25,000-share sale

Rhea-AI Filing Summary

Business First Bancshares, Inc. (BFST) director George W. Cummings has filed a notice under Rule 144 for a proposed sale of common stock. The filing lists 25,000 common shares$799,250

Key Figures

Proposed shares to be sold: 25,000 shares Aggregate market value of proposed sale: $799,250 Shares outstanding: 32,549,883 shares +4 more

7 metrics

Proposed shares to be sold 25,000 shares Common shares of Business First Bancshares, Inc. to be sold under Rule 144

Aggregate market value of proposed sale $799,250 Aggregate market value for 25,000 BFST common shares listed in the Form 144

Shares outstanding 32,549,883 shares BFST common shares outstanding referenced alongside the proposed 25,000-share sale

Sale on May 22, 2026 10,000 shares; $279,633.23 BFST common shares sold by George W. Cummings during the past 3 months

Sale on May 27, 2026 11,595 shares; $323,358.17 BFST common shares sold by George W. Cummings during the past 3 months

Sale on June 8, 2026 15,000 shares; $427,713.17 BFST common shares sold by George W. Cummings during the past 3 months

Sale on August 3, 2026 10,000 shares; $318,434.43 BFST common shares sold by George W. Cummings during the past 3 months

Key Terms

Rule 144, private transaction, aggregate market value, NASD

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.

private transaction financial

"Acquired from issuer in private transaction"

A private transaction is the sale or transfer of securities, assets, or ownership stakes carried out directly between a small number of parties rather than on a public exchange. For investors it matters because these deals are less visible and often less liquid than public trades, so pricing can be harder to verify, the investment can be harder to sell quickly, and buyers or sellers may gain strategic advantages not available in open markets — like negotiated terms similar to a private garage sale versus a crowded marketplace.

aggregate market value financial

"25000 | 799250 | 32549883 | 08/18/2026 | NASD"

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.

NASD regulatory

"08/18/2026 | NASD"

The NASD (National Association of Securities Dealers) was the self‑regulatory organization that created and enforced rules for broker‑dealers and supervised trading conduct, functioning like a referee for the securities industry. For investors, its role mattered because those rules and oversight aimed to reduce fraud, ensure fair dealing and maintain confidence in markets—factors that influence the safety of investments and the reputation and behavior of brokerage firms.

FAQ

What does the Form 144 filing disclose for Business First Bancshares, Inc. (BFST)?

The Form 144 discloses that director George W. Cummings25,000 BFST common shares

How many BFST shares is George W. Cummings proposing to sell in this Form 144?

George W. Cummings is proposing to sell 25,000 BFST common shares$799,250

What is the reported market value of the BFST shares covered by the proposed Form 144 sale?

The proposed sale covers BFST common shares with an aggregate market value of $799,25025,000 shares

Which broker is handling the planned BFST share sale for George W. Cummings?

The planned sale of 25,000 BFST common sharesGoldman Sachs & Co. LLC

What prior BFST stock sales by George W. Cummings are disclosed in the last three months?

The filing lists several prior BFST common share sales by Cummings, including 10,000 shares for $279,633.23 on May 22, 202615,000 shares for $427,713.17 on June 8, 2026

How many BFST shares has George W. Cummings sold on individual recent dates?

Individual recent sales include 11,595 BFST shares for $323,358.17 on May 27, 20265,000 shares for $143,768.03 on June 11, 202610,000-share

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

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Available on EDGAR 08/18/2026 - 05:45 PM Accepted by SEC EDGAR 08/18/2026 - 05:45 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

144: Filer Information

Filer CIK	0002106698
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Business First Bancshares, Inc.
SEC File Number	001-38447
Address of Issuer	500 Laurel Street Suite 101 Baton Rouge LOUISIANA 70801
Phone	1-225-248-7600
Name of Person for Whose Account the Securities are To Be Sold	George W. Cummings
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: 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 Shares	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	25000	799250	32549883	08/18/2026	NASD

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: 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 Shares	01/14/2000	Acquired from issuer in private transaction	Issuer			17690	01/14/2000	None
Common Shares	07/28/2005	Acquired from issuer in private transaction	Issuer			2330	07/28/2005	None
Common Shares	11/30/2007	Acquired from issuer in private transaction	Issuer			1207	11/30/2007	None
Common Shares	03/02/2007	Acquired from issuer in private transaction	Issuer			1101	03/02/2007	None
Common Shares	02/21/2006	Acquired from issuer in private transaction	Issuer			995	02/21/2006	None
Common Shares	08/05/2005	Acquired from issuer in private transaction	Issuer			875	08/05/2005	None
Common Shares	09/13/2007	Acquired from issuer in private transaction	Issuer			696	09/13/2007	None
Common Shares	12/03/2007	Acquired from issuer in private transaction	Issuer			106	12/03/2007	None

* 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: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	05/22/2026	10000	279633.23
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	05/27/2026	11595	323358.17
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	06/08/2026	15000	427713.17
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	06/09/2026	445	12918.93
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	06/10/2026	15000	432927.07
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	06/11/2026	5000	143768.03
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	07/28/2026	10000	318344.43
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	07/29/2026	10000	318533.43
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	07/30/2026	10000	320490.39
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	07/31/2026	10000	314681.51
George W. Cummings 500 Laurel Street Suite 101 Baton Rouge LA 70801	Common Shares	08/03/2026	10000	318434.43

144: Remarks and Signature

Remarks
Date of Notice	08/18/2026
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	Goldman Sachs & Co. LLC on behalf of George W. Cummings
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)