BFST holder plans 30,000-share Rule 144 stock sale

BFST shareholder George W. Cummings has filed to sell common shares under Rule 144.

Rhea-AI Filing Summary

BFST shareholder George W. Cummings has filed to sell common shares under Rule 144. The filing lists Goldman Sachs & Co. LLC as the broker for a planned sale of 30,000 common shares, with an aggregate market value of $958,200 and an expected sale date of July 30, 2026 on NASD.

The disclosure also reports prior open-market sales of BFST common shares during the past three months, including 10,000 shares on May 22, 2026 for $279,633.23, 11,595 shares on May 27, 2026 for $323,358.17, and multiple additional transactions through July 29, 2026.

Key Figures

Planned shares to be sold: 30,000 shares Aggregate market value of planned sale: $958,200 Approximate sale date: 07/30/2026 +4 more

7 metrics

Planned shares to be sold 30,000 shares Common shares to be sold through Goldman Sachs & Co. LLC

Aggregate market value of planned sale $958,200 Aggregate market value for 30,000 common shares

Approximate sale date 07/30/2026 Expected date for the 30,000-share Rule 144 sale

Past sale May 22, 2026 10,000 shares; $279,633.23 Common shares sold by George W. Cummings on 05/22/2026

Past sale May 27, 2026 11,595 shares; $323,358.17 Common shares sold by George W. Cummings on 05/27/2026

Past sale June 8, 2026 15,000 shares; $427,713.17 Common shares sold by George W. Cummings on 06/08/2026

Past sale July 29, 2026 10,000 shares; $318,533.43 Common shares sold by George W. Cummings on 07/29/2026

Key Terms

Rule 144, private transaction, NASD, aggregate market value

4 terms

Rule 144 regulatory

"144: Securities To Be Sold and 144: Securities Sold During The Past 3 Months"

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 | Issuer"

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.

NASD market

"07/30/2026 | 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.

aggregate market value financial

"30000 | 958200 | 32535659 | 07/30/2026 | 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.

FAQ

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

What does the BFST Rule 144 filing by George W. Cummings disclose?

The filing discloses that George W. Cummings plans to sell 30,000 BFST common shares through Goldman Sachs & Co. LLC. It also lists several prior open-market sales of BFST shares over the past three months with specific dates, share amounts, and dollar proceeds.

How many BFST shares are planned to be sold in this Rule 144 notice?

The notice covers a planned sale of 30,000 BFST common shares. The aggregate market value associated with this amount is $958,200, with an approximate sale date of July 30, 2026 and trading indicated for the NASD market.

Which broker is handling the planned BFST share sale under Rule 144?

The planned sale of 30,000 BFST common shares is listed as being handled by Goldman Sachs & Co. LLC, located at 200 West Street, New York, NY 10282. The filing associates this broker with the NASD market for the transaction.

What recent BFST share sales by George W. Cummings are reported?

Reported past sales include 10,000 shares on May 22, 2026 for $279,633.23 and 11,595 shares on May 27, 2026 for $323,358.17. Additional transactions continue through July 29, 2026, each with specified share counts and total proceeds.

On what date is the new BFST Rule 144 sale expected to occur?

The filing indicates an approximate sale date of July 30, 2026 for the 30,000 BFST common shares covered by this notice. This date applies to the planned transaction to be executed through Goldman Sachs & Co. LLC on NASD.

How were the BFST shares originally acquired by George W. Cummings?

The filing notes that the BFST common shares were acquired from the issuer in private transactions on several dates, including January 14, 2000, October 2, 2000, and July 28, 2005, each described as acquisitions directly from the issuer.

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

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Available on EDGAR 07/30/2026 - 04:41 PM Accepted by SEC EDGAR 07/30/2026 - 04:40 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	30000	958200	32535659	07/30/2026	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	10/02/2000	Acquired from issuer in private transaction	Issuer			261	10/02/2000	None
Common Shares	01/14/2000	Acquired from issuer in private transaction	Issuer			28568	01/14/2000	None
Common Shares	07/28/2005	Acquired from issuer in private transaction	Issuer			1171	07/28/2005	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

144: Remarks and Signature

Remarks
Date of Notice	07/30/2026
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)