Business First director sells 20K shares

Business First Bancshares, Inc. director George W. Cummings III reported selling 10,000 shares of common stock at $32.08 on July 30, 2026, and 10,000 shares at $31.50 on July 31, 2026, for total reported sales of 20,000 shares.

Rhea-AI Filing Summary

Business First Bancshares, Inc. director George W. Cummings III reported selling 10,000 shares of common stock at $32.08 on July 30, 2026, and 10,000 shares at $31.50 on July 31, 2026, for total reported sales of 20,000 shares. He also holds 998 time-based restricted stock units, each economically equivalent to one share and scheduled to fully vest on June 25, 2027, plus 3,911 common shares held indirectly through his spouse.

Insider Trade Summary

Net Seller: 20,000 shares

Net Sell 4 txns

Insider Cummings George W. III

Role Director

Sold 20,000 shs ($636K)

Type	Security	Shares	Price	Value
Sale	COMMON STOCK	10,000	$31.50	$315K
Sale	COMMON STOCK	10,000	$32.08	$321K
holding	Restricted Stock Units F1	--	--	--
holding	COMMON STOCK	--	--	--

Holdings After Transaction: COMMON STOCK — 221,180 shares (Direct); Restricted Stock Units — 998 contracts (Direct); COMMON STOCK — 3,911 shares (Indirect, By Spouse)

Footnotes (1)

1. F1. The time-based restricted stock units were granted to the reporting person on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. The time-based restricted stock units will fully vest on June 25, 2027. 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.

Key Figures

Common shares sold on 2026-07-30: 10000.0000 shares Common shares sold on 2026-07-31: 10000.0000 shares Total shares sold: 20000 shares +2 more

5 metrics

Common shares sold on 2026-07-30 10000.0000 shares Open-market or private sale at $32.0800 per share by director George W. Cummings III

Common shares sold on 2026-07-31 10000.0000 shares Open-market or private sale at $31.5000 per share by director George W. Cummings III

Total shares sold 20000 shares Aggregate of two reported common-stock sales on July 30 and July 31, 2026

Unvested RSU underlying shares 998.0000 shares Time-based restricted stock units granted June 25, 2026, vesting June 25, 2027; each RSU equals one share

Indirect spouse holdings 3911.0000 shares Common stock held indirectly by spouse as of July 30, 2026

Key Terms

Restricted Stock Units, time-based restricted stock units, 2024 Equity Incentive Plan, economically equivalent

4 terms

Restricted Stock Units financial

"The time-based restricted stock units were granted to the reporting person"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

time-based restricted stock units financial

"The time-based restricted stock units will fully vest on June 25, 2027"

Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.

2024 Equity Incentive Plan financial

"granted to the reporting person on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan"

economically equivalent financial

"Each time-based restricted stock unit is economically equivalent to one share of common stock"

FAQ

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

What insider stock sales did Business First Bancshares (BFST) disclose for George W. Cummings III?

George W. Cummings III reported selling 20,000 shares of Business First Bancshares common stock. The sales were 10,000 shares at $32.08 on July 30, 2026, and 10,000 shares at $31.50 on July 31, 2026, in open-market or private transactions.

At what prices were the recent BFST insider share sales by director Cummings executed?

The reported sales were executed at $32.08 and $31.50 per share. Cummings sold 10,000 shares at $32.08 on July 30, 2026, and another 10,000 shares at $31.50 on July 31, 2026, according to the Form 4 disclosure.

What equity awards in BFST does George W. Cummings III currently hold?

Cummings holds 998 time-based restricted stock units (RSUs) in Business First Bancshares. Granted on June 25, 2026 under the 2024 Equity Incentive Plan, these RSUs are economically equivalent to common shares and will fully vest on June 25, 2027, subject to possible forfeiture events.

Does George W. Cummings III have any indirect ownership of Business First Bancshares (BFST) stock?

Yes. The filing reports 3,911 shares of Business First Bancshares common stock held indirectly through his spouse. This position is in addition to his direct holdings and equity awards disclosed in the same Form 4 filing.

Were the BFST insider trades by Cummings made under a Rule 10b5-1 trading plan?

The Rule 10b5-1 checkbox in the filing is not marked, indicating the company did not affirm these trades as made under a Rule 10b5-1 trading plan. The transactions are simply reported as sales in the open market or private transactions.

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

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Available on EDGAR 07/31/2026 - 06:08 PM Accepted by SEC EDGAR 07/31/2026 - 06:07 PM Learn about SEC filing dates

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^*

Cummings George W. III

(Last) (First) (Middle)

500 LAUREL STREET, SUITE 101

(Street)

BATON ROUGE LOUISIANA 70801

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2026

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK	07/30/2026		S		10,000	D	$32.08	231,180	D
COMMON STOCK	07/31/2026		S		10,000	D	$31.5	221,180	D
COMMON STOCK								3,911	I	By Spouse

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0.0000							(1)	(1)	Common Stock	998		998	D

Explanation of Responses:

1. The time-based restricted stock units were granted to the reporting person on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. The time-based restricted stock units will fully vest on June 25, 2027. 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 George W. Cummings III	07/31/2026
	** 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.
* Form 4: SEC 1474 (03-26)