Business First (NASDAQ: BFST) director RSU grant and 1,016-share vesting disclosed

Q: What equity awards did BFST director Zeenat Sidi receive in this Form 4?

Director Zeenat Sidi received 998 time-based restricted stock units (RSUs) on June 25, 2026 under the Business First Bancshares, Inc. 2024 Equity Incentive Plan . Each RSU is economically equivalent to one share of BFST common stock and will vest on June 25, 2027.

Q: How many RSUs vested for BFST director Zeenat Sidi in June 2026?

On June 26, 2026, 1,016 previously granted RSUs vested for director Zeenat Sidi and were converted into the same number of BFST common shares. These RSUs were originally awarded on June 26, 2025, with vesting on the first anniversary of the grant date.

Q: How many BFST common shares does Zeenat Sidi hold after these transactions?

Following the June 26, 2026 vesting, Zeenat Sidi holds 1,674 shares of BFST common stock directly. These shares reflect equity compensation that has already vested and converted, rather than open-market purchases, and represent her reported direct ownership after the transactions.

Q: What unvested BFST restricted stock units does Zeenat Sidi still have?

After the reported transactions, Zeenat Sidi holds 998 unvested time-based RSUs in BFST. These RSUs were granted on June 25, 2026 and are scheduled to fully vest on June 25, 2027, subject to potential forfeiture under certain specified conditions.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Business First Bancshares director Zeenat Sidi reported routine equity compensation activity. On June 25, 2026, Sidi received 998 time-based restricted stock units (RSUs) under the company’s 2024 Equity Incentive Plan. These RSUs will fully vest on June 25, 2027 and are subject to forfeiture under certain conditions.

On June 26, 2026, 1,016 previously granted RSUs vested and were converted into 1,016 shares of common stock, reflecting an exercise or conversion of derivative securities rather than an open-market purchase. After these transactions, Sidi directly holds 1,674 shares of common stock and 998 unvested RSUs, all awarded as part of equity compensation.

Insider Trade Summary

1,016 shares exercised/converted

Mixed 3 txns

Insider Sidi Zeenat

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	--

Holdings After Transaction: Restricted Stock Units — 998 shares (Direct, null); COMMON STOCK — 1,674 shares (Direct, null)

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.

Key Figures

New RSU grant: 998 RSUs RSUs vested and converted: 1,016 RSUs/common shares Common shares held after transactions: 1,674 shares +2 more

5 metrics

New RSU grant 998 RSUs Granted June 25, 2026 under 2024 Equity Incentive Plan

RSUs vested and converted 1,016 RSUs/common shares Vested and converted June 26, 2026 from June 26, 2025 award

Common shares held after transactions 1,674 shares Direct BFST common stock ownership after June 26, 2026

Unvested RSUs remaining 998 RSUs Time-based RSUs vesting June 25, 2027, subject to forfeiture

Exercise/Conversion price $0.00 per RSU RSU conversion into common stock on June 26, 2026

Key Terms

Restricted Stock Units, time-based restricted stock units, 2024 Equity Incentive Plan, Exercise or conversion of derivative security, +1 more

5 terms

Restricted Stock Units financial

"Reflects the grant of time-based restricted stock units 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 under the Business First Bancshares, Inc. 2024 Equity Incentive Plan"

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 06:23 PM Accepted by SEC EDGAR 06/29/2026 - 06:22 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^*

Sidi Zeenat

(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⁾	1,674	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)
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	1,016	⁽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.

	/s/ Heather Roemer, as attorney-in-fact for Zeenat Sidi	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 equity awards did BFST director Zeenat Sidi receive in this Form 4?

Director Zeenat Sidi received 998 time-based restricted stock units (RSUs) on June 25, 2026 under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. Each RSU is economically equivalent to one share of BFST common stock and will vest on June 25, 2027.

How many RSUs vested for BFST director Zeenat Sidi in June 2026?

On June 26, 2026, 1,016 previously granted RSUs vested for director Zeenat Sidi and were converted into the same number of BFST common shares. These RSUs were originally awarded on June 26, 2025, with vesting on the first anniversary of the grant date.

How many BFST common shares does Zeenat Sidi hold after these transactions?

Following the June 26, 2026 vesting, Zeenat Sidi holds 1,674 shares of BFST common stock directly. These shares reflect equity compensation that has already vested and converted, rather than open-market purchases, and represent her reported direct ownership after the transactions.

What unvested BFST restricted stock units does Zeenat Sidi still have?

After the reported transactions, Zeenat Sidi holds 998 unvested time-based RSUs in BFST. These RSUs were granted on June 25, 2026 and are scheduled to fully vest on June 25, 2027, subject to potential forfeiture under certain specified conditions.

Were there any open-market purchases or sales by Zeenat Sidi in this BFST Form 4?

No open-market purchases or sales are reported. The filing shows a grant of 998 RSUs and the vesting and conversion of 1,016 RSUs into common stock. These are routine equity compensation events, not discretionary market trades in BFST shares.

What plan governs the restricted stock units reported for BFST director Zeenat Sidi?

The time-based restricted stock units are granted under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. This plan provides equity-based awards, and the reported RSUs are economically equivalent to BFST common stock and subject to vesting and forfeiture terms.