STOCK TITAN

Business First Bancshares (BFST) EVP has 528 shares withheld for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Business First Bancshares EVP and CAO Heather G. Roemer reported a tax-withholding disposition of 528 shares of common stock at $27.04 per share. These shares were withheld to cover tax obligations, not sold in the open market. After this entry, she directly holds 19,064 common shares. The filing also reports indirect holdings of 8,817 common shares held by her spouse and 7,230 common shares held as custodian for minor children, plus 8,129 underlying common shares tied to restricted stock units that vest over future anniversaries of prior grant dates.

Positive

  • None.

Negative

  • None.
Insider Roemer Heather G.
Role EVP, CAO
Type Security Shares Price Value
Tax Withholding COMMON STOCK 528 $27.04 $14K
holding Restricted Stock Units -- -- --
holding COMMON STOCK -- -- --
holding COMMON STOCK -- -- --
Holdings After Transaction: COMMON STOCK — 19,064 shares (Direct); Restricted Stock Units — 8,129 shares (Direct); COMMON STOCK — 8,817 shares (Indirect, By spouse)
Footnotes (1)
  1. Includes 725 shares held jointly with spouse. Includes: (a) 2,198 time-based restricted stock units granted to the reporting person on December 12, 2024, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (b) 2,318 time-based restricted stock units granted to the reporting person on March 1, 2025, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (c) 722 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date; and (d) 2,891 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date.
Tax-withholding shares 528 shares Common stock delivered for tax obligations on 2026-03-31
Tax-withholding price $27.04 per share Price used for the 528-share tax-withholding disposition
Direct common shares 19,064 shares Direct BFST common stock held after transaction
RSU underlying shares 8,129 shares Common shares underlying restricted stock units held directly
Spouse indirect shares 8,817 shares Common stock held indirectly through spouse
Custodian shares 7,230 shares Common stock held as custodian for minor children
tax-withholding disposition financial
"classified as a tax-withholding disposition of 528 common shares"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Restricted Stock Units financial
"The filing also reports holdings of Restricted Stock Units"
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
"Includes time-based restricted stock units granted to the reporting person"
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.
custodian for minor children financial
"shares held indirectly as custodian for minor children"
SEC Form 4
FORM 4UNITED 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*
Roemer Heather G.

(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP, CAO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
COMMON STOCK03/31/2026F528D$27.0419,064(1)D
COMMON STOCK8,817IBy spouse
COMMON STOCK7,230IAs custodian for minor children
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units$0.0000 (2) (2)Common Stock8,1298,129(2)D
Explanation of Responses:
1. Includes 725 shares held jointly with spouse.
2. Includes: (a) 2,198 time-based restricted stock units granted to the reporting person on December 12, 2024, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (b) 2,318 time-based restricted stock units granted to the reporting person on March 1, 2025, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (c) 722 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date; and (d) 2,891 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date.
/s/ Saundra Strong, as attorney-in-fact for Heather G. Roemer04/02/2026
** Signature of Reporting PersonDate
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 did BFST executive Heather G. Roemer report in this Form 4?

Heather G. Roemer, EVP and CAO of Business First Bancshares (BFST), reported a tax-withholding disposition of 528 common shares at $27.04 per share. These shares were withheld to satisfy tax obligations, and she continues to hold a significant direct and indirect equity position.

How many Business First Bancshares shares were withheld for taxes?

The filing shows 528 shares of Business First Bancshares common stock were withheld at $27.04 per share. This was reported as a tax-withholding disposition, meaning the shares were used to cover tax liabilities rather than sold on the open market.

How many BFST shares does Heather G. Roemer hold after the transaction?

After the tax-withholding entry, Heather G. Roemer directly holds 19,064 Business First Bancshares common shares. The Form 4 also reports indirect ownership of 8,817 shares through her spouse and 7,230 shares as custodian for minor children, plus additional restricted stock units.

What restricted stock units does Heather G. Roemer hold at Business First Bancshares (BFST)?

Roemer holds restricted stock units covering 8,129 underlying BFST common shares. Footnotes detail multiple time-based grants from 2024 to 2026 that vest in equal installments on future anniversaries of their issuance dates, subject to the original award terms.

Is the 528-share BFST transaction an open-market sale by Heather G. Roemer?

No. The 528-share transaction is classified as a tax-withholding disposition, not an open-market sale. Shares were delivered to cover tax obligations associated with equity compensation while Roemer’s direct and indirect holdings in Business First Bancshares remain substantial.