Director acquires 20,868 HBT Financial (HBT) shares in CNB merger

Rhea-AI Filing Summary

HBT Financial, Inc. director Nancy L. Ruyle reported acquiring 20,868 shares of common stock on March 1, 2026. The shares were recorded at a price of $0.00 per share, indicating they were received as part of a non-cash award rather than an open-market purchase.

According to the disclosure, the shares were acquired pursuant to an Agreement and Plan of Merger between HBT Financial and CNB Bank Shares, Inc., under which each CNB share was converted into the right to receive stock consideration, cash consideration of $27.73, or a mix of both, subject to election and proration procedures. The filing notes that the 20,868-share figure is an estimate and may be updated in an amended Form 4 if the final share count differs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Ruyle Nancy L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.01 par value	20,868	$0.00	--

Holdings After Transaction: Common Stock, $0.01 par value — 20,868 shares (Direct)

Footnotes (1)

1. Acquired pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement") entered into on October 20, 2025, between Issuer and CNB Bank Shares, Inc. ("CNB"). Pursuant to the Merger Agreement, at the effective time of the merger, CNB merged with and into Issuer with Issuer surviving the merger, and each share of common stock, par value $0.01 per share, of CNB outstanding immediately prior to the effective time of the merger, was converted into the right to receive, at the option of the Reporting Persons, the following: (1) (a) 1.0434 shares of common stock, par value $0.01 per share, of HBT Financial, Inc. ("Common Stock") (the "stock consideration"), (b) cash in the amount of $27.73 (the "cash consideration"), or (c) a combination of cash consideration and stock consideration ("mixed consideration"), in each case subject to adjustment and to the election and proration procedures as provided in the Merger Agreement, and (2) cash in lieu of fractional shares. Reflects the estimated number of shares of Common Stock to be issued to the Reporting Persons pursuant to the Merger Agreement. The Reporting Persons will file an amendment to this Form 4 to the extent the actual number of shares of Common Stock issued differs from the number reported in column (4).

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
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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^*

Ruyle Nancy L

(Last) (First) (Middle)

C/O HBT FINANCIAL, INC.

401 N. HERSHEY ROAD

(Street)

BLOOMINGTON IL 61704

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HBT Financial, Inc. [ HBT ]

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)
03/01/2026

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, $0.01 par value	03/01/2026		A(1)		20,868(2)	A	(1)	20,868	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

Explanation of Responses:

1. Acquired pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement") entered into on October 20, 2025, between Issuer and CNB Bank Shares, Inc. ("CNB"). Pursuant to the Merger Agreement, at the effective time of the merger, CNB merged with and into Issuer with Issuer surviving the merger, and each share of common stock, par value $0.01 per share, of CNB outstanding immediately prior to the effective time of the merger, was converted into the right to receive, at the option of the Reporting Persons, the following: (1) (a) 1.0434 shares of common stock, par value $0.01 per share, of HBT Financial, Inc. ("Common Stock") (the "stock consideration"), (b) cash in the amount of $27.73 (the "cash consideration"), or (c) a combination of cash consideration and stock consideration ("mixed consideration"), in each case subject to adjustment and to the election and proration procedures as provided in the Merger Agreement, and (2) cash in lieu of fractional shares.

2. Reflects the estimated number of shares of Common Stock to be issued to the Reporting Persons pursuant to the Merger Agreement. The Reporting Persons will file an amendment to this Form 4 to the extent the actual number of shares of Common Stock issued differs from the number reported in column (4).

Remarks:

	/s/ Renee K. Fehr, Attorney-in-Fact	03/03/2026
	** 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.
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FAQ

What insider transaction did HBT (HBT Financial, Inc.) report on this Form 4?

HBT Financial reported that director Nancy L. Ruyle acquired 20,868 shares of common stock. The acquisition was recorded at $0.00 per share and reflects shares received as part of a non-cash award tied to a merger transaction with CNB Bank Shares, Inc.

How many HBT Financial (HBT) shares did Nancy L. Ruyle hold after the transaction?

After the reported transaction, Nancy L. Ruyle beneficially owned 20,868 shares of HBT Financial common stock directly. This total matches the 20,868 shares acquired in the transaction, indicating these holdings resulted from the merger-related stock award described in the Form 4.

What was the price per share for Nancy L. Ruyle’s HBT stock acquisition?

The acquisition price per share was reported as $0.00. This indicates the shares were received without a cash payment, consistent with stock issued as consideration in a merger transaction rather than purchased on the open market or through a traditional stock-buying program.

How is the CNB Bank Shares, Inc. merger related to this HBT insider filing?

The Form 4 explains that the shares were acquired under a merger agreement where CNB Bank Shares, Inc. merged into HBT Financial. Each CNB share converted into rights to receive HBT stock, cash, or a mix, with Ruyle’s reported shares reflecting her consideration under that merger.

Is the 20,868-share figure in the HBT Form 4 final or subject to change?

The 20,868-share amount is described as an estimated number of HBT Financial shares to be issued. The reporting person plans to amend the Form 4 if the actual number of common shares received under the merger agreement differs from the estimate disclosed.

What consideration options did CNB shareholders have in the HBT Financial merger?

CNB shareholders could elect to receive either 1.0434 HBT Financial common shares, $27.73 in cash, or a mix of stock and cash for each CNB share. These elections were subject to adjustment and proration procedures, plus cash paid in lieu of any fractional HBT shares.