Business First (BFST) director buys 1,500 shares in open market

Rhea-AI Filing Summary

Business First Bancshares, Inc. (BFST) director Rick D. Day increased his personal stake by purchasing additional common stock. On January 27, 2026, he bought 1,500 shares of common stock at a price of $27.55 per share in an open-market transaction, bringing his directly held common stock position to 267,385 shares.

He also holds 1,016 time-based restricted stock units granted on June 26, 2025 under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. These restricted stock units are scheduled to fully vest on June 26, 2026, are economically equivalent to shares of common stock, and are subject to forfeiture if certain conditions are not met.

Insider Trade Summary

Net Buyer: 1,500 shares ($41,325)

Net Buy 2 txns

Insider Day Rick D.

Role Director

Bought 1,500 shs ($41K)

Type	Security	Shares	Price	Value
Purchase	COMMON STOCK	1,500	$27.55	$41K
holding	Restricted Stock Units	--	--	--

Holdings After Transaction: COMMON STOCK — 267,385 shares (Direct); Restricted Stock Units — 1,016 shares (Direct)

Footnotes (1)

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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^*

Day Rick D.

(Last) (First) (Middle)

500 LAUREL STREET, SUITE 101

(Street)

BATON ROUGE LA 70801

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

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

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

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

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	01/27/2026		P		1,500	A	$27.55	267,385	D

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	1,016		1,016	D

Explanation of Responses:

1. The time-based restricted stock units were granted to the reporting person on June 26, 2025 under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. The time-based restricted stock units will fully vest on June 26, 2026. 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 Rick D. Day	01/27/2026
	** 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.

FAQ

What insider transaction did BFST director Rick D. Day report?

Rick D. Day, a director of Business First Bancshares, Inc. (BFST), reported buying 1,500 shares of common stock on January 27, 2026 in an open-market purchase coded "P."

At what price did the BFST director buy the new shares?

The 1,500 BFST common shares were purchased at a price of $27.55 per share, as disclosed in the Form 4.

How many BFST shares does the director own after this transaction?

Following the reported purchase, Rick D. Day directly owns 267,385 shares of Business First Bancshares, Inc. common stock.

What restricted stock units (RSUs) does the BFST director hold?

He holds 1,016 time-based restricted stock units, each economically equivalent to one share of BFST common stock, reported as directly owned derivative securities.

When do Rick D. Day’s BFST restricted stock units vest?

The time-based restricted stock units were granted on June 26, 2025 and are scheduled to fully vest on June 26, 2026, subject to their terms.

Under which plan were the BFST restricted stock units granted?

The 1,016 time-based restricted stock units were granted under the Business First Bancshares, Inc. 2024 Equity Incentive Plan.

Are the BFST restricted stock units subject to forfeiture?

Yes. The filing states that the unvested restricted stock units are subject to forfeiture if certain events occur, as specified in the grant terms.