BFST Form 144: Proposed Sale of 2,363 Shares Worth $59,965

Form 144 filed for Business First Bancshares, Inc. (BFST) reports a proposed sale of 2,363 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $59,964.91.

Rhea-AI Filing Summary

Form 144 filed for Business First Bancshares, Inc. (BFST) reports a proposed sale of 2,363 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $59,964.91. The filing lists 29,602,970 shares outstanding and an approximate sale date of 08/22/2025 on NASDAQ. The shares were acquired as restricted stock on 03/31/2025 (2,331 shares) and 03/31/2024 (32 shares). No securities were reported sold in the past three months. Several issuer and filer contact fields in the form are blank.

Insights

Financial Analyst

TL;DR: Routine insider sale notice; small block disclosed with broker and acquisition dates noted.

The filing formally notifies the market of a proposed sale of 2,363 common shares valued at $59,964.91 to be executed via Morgan Stanley Smith Barney LLC on NASDAQ around 08/22/2025. Acquisition details are provided showing the shares originated as restricted stock on 03/31/2025 and 03/31/2024. There are no reported sales in the prior three months, which limits immediate transactional history. This notice supplies necessary mechanics for an expected Rule 144 disposition but lacks identifying filer contact and issuer address details.

Corporate Governance Expert

TL;DR: Disclosure meets basic Rule 144 mechanics but omits certain filer and issuer contact details.

The Form 144 documents the intended sale and includes broker, share count, market value, acquisition method, and planned sale date, supporting compliance with Rule 144 notification requirements. The signer’s representation about absence of undisclosed material adverse information is included. However, several fields related to filer and issuer identification and submission contact appear blank in the provided content, reducing transparency about the selling party and contactability for follow-up.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 for BFST disclose about the proposed sale?

The form reports a proposed sale of 2,363 common shares valued at $59,964.91 via Morgan Stanley Smith Barney LLC with an approximate sale date of 08/22/2025 on NASDAQ.

When were the shares being sold originally acquired according to the filing?

The shares were acquired as restricted stock on 03/31/2025 (2,331 shares) and 03/31/2024 (32 shares).

Does the filing report any securities sold by the same person in the past three months?

No. The filing states 'Nothing to Report' for securities sold during the past three months.

Which broker and exchange are identified in the Form 144?

The broker is Morgan Stanley Smith Barney LLC and the named exchange for the proposed sale is NASDAQ.

Does the filing include contact or identifying information for the filer or issuer?

The provided content shows blank or missing filer and issuer contact/identification fields; those details are not present in the content analyzed.

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

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Accepted by SEC EDGAR 08/22/2025 - 04:10 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	0001889385
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	(225) 248-7600
Name of Person for Whose Account the Securities are To Be Sold	SAUNDRA STRONG
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	Officer

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	2363	59964.91	29602970	08/22/2025	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: 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	03/31/2025	Restricted Stock	Issuer			2331	03/31/2025	Not Applicable
Common	03/31/2024	Restricted Stock	Issuer			32	03/31/2024	Not Applicable

* 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

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	08/22/2025
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/ Saundra Brown Strong
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)