Director Arthur Price gains Business First Bancshares (BFST) stock via RSUs

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Business First Bancshares, Inc. director Arthur Price reported equity compensation activity rather than market trading in the company’s stock. He received a grant of 998 time-based restricted stock units on June 25, 2026 under the 2024 Equity Incentive Plan, each unit economically equivalent to one common share and scheduled to fully vest on June 25, 2027.

On June 26, 2026, Price exercised 1,016 restricted stock units for common stock at a stated price of $0.00 per share, increasing his directly held common stock to 11,680 shares. He also holds 11,000 common shares indirectly through PEMP Investments, LLC and continues to own 998 unvested restricted stock units after these transactions.

Insider Trade Summary

1,016 shares exercised/converted

Mixed 4 txns

Insider PRICE ARTHUR

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,016	$0.00	--
Exercise	COMMON STOCK	1,016	$0.00	--
Grant/Award	Restricted Stock Units	998	$0.00	--
holding	COMMON STOCK	--	--	--

Holdings After Transaction: Restricted Stock Units — 998 shares (Direct, null); COMMON STOCK — 11,680 shares (Direct, null); COMMON STOCK — 11,000 shares (Indirect, By PEMP Investments, LLC, a company controlled by reporting person)

Footnotes (1)

Reflects the grant of time-based restricted stock units granted to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 25, 2026. 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. The reporting person received an award of 1,016 time-based restricted stock units on June 26, 2025, vesting on the first anniversary of the issuance date. Remarks

Key Figures

RSU grant: 998 units RSU exercise: 1,016 units Direct common shares: 11,680 shares +3 more

6 metrics

RSU grant 998 units Time-based restricted stock units granted June 25, 2026

RSU exercise 1,016 units Restricted stock units exercised into common stock June 26, 2026

Direct common shares 11,680 shares Common stock directly held after transactions

Indirect common shares 11,000 shares Common stock held via PEMP Investments, LLC

Unvested RSUs remaining 998 units Restricted stock units outstanding after transactions

Exercise price $0.00 per share Price per share for RSU exercise into common stock

Key Terms

Restricted Stock Units, time-based restricted stock units, 2024 Equity Incentive Plan, economically equivalent to one share of common stock, +1 more

5 terms

Restricted Stock Units financial

"The reporting person received an award of 1,016 time-based restricted stock units on June 26, 2025"

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

"Reflects the grant of 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.

2024 Equity Incentive Plan financial

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

indirect ownership financial

"By PEMP Investments, LLC, a company controlled by reporting person"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 06:21 PM Accepted by SEC EDGAR 06/29/2026 - 06:21 PM

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^*

PRICE ARTHUR

(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)
06/25/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	06/26/2026		M		1,016	A	⁽²⁾	11,680	D
COMMON STOCK								11,000	I	By PEMP Investments, LLC, a company controlled by reporting person

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0	06/25/2026		A		998		⁽¹⁾	⁽¹⁾	Common Stock	998	⁽¹⁾	2,014	D
Restricted Stock Units	⁽²⁾	06/26/2026		M			1,016	⁽²⁾	⁽²⁾	Common Stock	998	⁽²⁾	998	D

Explanation of Responses:

1. Reflects the grant of time-based restricted stock units granted to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 25, 2026. 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.

2. The reporting person received an award of 1,016 time-based restricted stock units on June 26, 2025, vesting on the first anniversary of the issuance date. Remarks

	/s/ Heather Roemer, as attorney-in-fact for Arthur Price	06/29/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Arthur Price report for Business First Bancshares (BFST)?

Arthur Price reported equity compensation activity, not open-market trades. He exercised 1,016 restricted stock units into common stock and received a new grant of 998 time-based restricted stock units, all at a stated price of $0.00 per unit or share.

How many restricted stock units were granted to Arthur Price in the latest BFST Form 4?

The filing shows a grant of 998 time-based restricted stock units on June 25, 2026. These units were issued under the 2024 Equity Incentive Plan and are economically equivalent to common shares, with vesting and forfeiture conditions described in the footnotes.

When do Arthur Price’s newly granted BFST restricted stock units vest?

The 998 time-based restricted stock units granted on June 25, 2026 fully vest on June 25, 2027. Until vesting, the award remains subject to forfeiture upon certain events, as specified in the plan terms outlined in the filing’s footnote.

How many BFST common shares does Arthur Price hold directly and indirectly after these transactions?

After the reported transactions, Arthur Price directly holds 11,680 shares of Business First Bancshares common stock. He also indirectly holds 11,000 additional common shares through PEMP Investments, LLC, a company he controls, according to the ownership disclosure.

Did Arthur Price make any open-market purchases or sales of BFST stock in this Form 4?

No open-market purchases or sales are reported. The filing shows a grant of restricted stock units and an exercise of 1,016 restricted stock units into common shares, both at a stated price of $0.00, reflecting compensation-related and derivative exercise activity only.

What happens to Arthur Price’s unvested BFST restricted stock units if certain events occur?

The filing explains that the reported unvested time-based restricted stock units are subject to forfeiture upon certain events. Specific forfeiture conditions are governed by the 2024 Equity Incentive Plan and the individual grant terms referenced in the footnote.