Business First Bancshares (NASDAQ: BFST) director sells 15,000 common shares

Rhea-AI Filing Summary

Business First Bancshares, Inc. director George W. Cummings III reported an open-market sale of common stock. He sold 15,000 shares on June 8, 2026 at a price of $28.54 per share.

After this sale, he directly holds 281,180 common shares and indirectly holds 3,911 shares through his spouse. The filing also notes that his common stock holdings include 223,669 pledged shares.

Insider Trade Summary

Net Seller: 15,000 shares ($428,100)

Net Sell 2 txns

Insider Cummings George W. III

Role null

Sold 15,000 shs ($428K)

Type	Security	Shares	Price	Value
Sale	COMMON STOCK	15,000	$28.54	$428K
holding	COMMON STOCK	--	--	--

Holdings After Transaction: COMMON STOCK — 281,180 shares (Direct, null); COMMON STOCK — 3,911 shares (Indirect, By Spouse)

Footnotes (1)

1. [object Object]

Key Figures

Shares sold: 15,000 shares Sale price: $28.54 per share Direct holdings after sale: 281,180 shares +2 more

5 metrics

Shares sold 15,000 shares Open-market sale of common stock on June 8, 2026

Sale price $28.54 per share Transaction price for 15,000-share sale

Direct holdings after sale 281,180 shares Common stock directly owned following transaction

Indirect holdings 3,911 shares Common stock held indirectly through spouse

Pledged shares 223,669 shares Common stock holdings stated as pledged in footnote

Key Terms

open-market sale, indirect ownership, pledged shares, non-derivative

4 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

""direct_or_indirect": "I", "nature_of_ownership": "By Spouse""

pledged shares financial

"Includes 223,669 pledged shares of common stock of the issuer."

non-derivative financial

""transaction_type": "non-derivative""

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Form 4 Insider Transactions: What Each Field Means →

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)
06/08/2026

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	06/08/2026		S		15,000	D	$28.54	281,180(1)	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

Explanation of Responses:

1. Includes 223,669 pledged shares of common stock of the issuer.

	/s/ Heather Roemer, as attorney-in-fact for George W. Cummings III	06/09/2026
	** 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)

FAQ

What insider transaction did BFST director George W. Cummings III report?

George W. Cummings III reported selling 15,000 shares of Business First Bancshares common stock. The transaction was an open-market sale on June 8, 2026 at $28.54 per share, as disclosed in the Form 4 filing.

At what price did George W. Cummings III sell BFST shares?

He sold Business First Bancshares common stock at $28.54 per share. The Form 4 shows a single open-market sale of 15,000 shares on June 8, 2026 at that reported transaction price.

How many BFST shares does George W. Cummings III own after the sale?

Following the reported sale, he directly holds 281,180 Business First Bancshares common shares. The filing also shows an additional 3,911 shares held indirectly through his spouse, reflecting total holdings reported in this Form 4.

Does the BFST Form 4 show any indirect holdings for George W. Cummings III?

Yes. The Form 4 lists 3,911 shares of Business First Bancshares common stock as indirectly owned through his spouse. This is separate from his direct ownership position of 281,180 common shares after the reported transaction.

What does the Form 4 say about pledged BFST shares for George W. Cummings III?

A footnote states that his reported common stock holdings include 223,669 pledged shares. Pledged shares are typically used as collateral, and the Form 4 clarifies that this number is part of his overall common stock position.

Were there any derivative securities involved in George W. Cummings III’s BFST filing?

No derivative securities are listed in this Form 4 for George W. Cummings III. The filing only reports non-derivative common stock holdings and the 15,000-share open-market sale on June 8, 2026.