4//SEC Filing
Hall William G. 4
Accession 0001437749-24-031112
CIK 0001624322other
Filed
Oct 10, 8:00 PM ET
Accepted
Oct 11, 4:05 PM ET
Size
14.6 KB
Accession
0001437749-24-031112
Insider Transaction Report
Form 4
Hall William G.
Director
Transactions
- Award
COMMON STOCK
2024-10-01+238,540→ 238,540 total(indirect: By: Align Opportunities, LP) - Award
Stock Options (Right to Buy)
2024-10-01+767→ 767 totalExercise: $24.45Exp: 2031-01-01→ Common Stock (767 underlying) - Award
COMMON STOCK
2024-10-01+4,866→ 4,866 total - Award
Stock Options (Right to Buy)
2024-10-01+511→ 511 totalExercise: $24.45Exp: 2029-10-16→ Common Stock (511 underlying) - Award
Stock Options (Right to Buy)
2024-10-01+767→ 767 totalExercise: $24.45Exp: 2032-08-17→ Common Stock (767 underlying)
Footnotes (4)
- [F1]Acquired in exchange for 9,520 shares of Oakwood Bancshares, Inc. ("Oakwood") in connection with the merger of Oakwood with and into the issuer (the "Merger"). At the effective time of the Merger, each share of Oakwood common stock was converted into the right to receive approximately 0.5112 shares of the issuer's common stock. On the effective date of the Merger, the closing price of the issuer's common stock was $24.59 per share. Of the 4,866 shares issued to the reporting person in the Merger, 72 shares are currently being held in escrow and are subject to forfeiture during the escrow period, which shall be until the later of (i) the date that certain threatened or future litigation directly or indirectly arising out of, involving, or related to Oakwood's banking subsidiary, Oakwood Bank, and a former customer of Oakwood Bank is fully and finally resolved or (ii) two (2) years from the closing date of the Merger.
- [F2]Acquired in exchange for 466,628 shares of Oakwood in connection with the Merger. At the effective time of the Merger, each share of Oakwood common stock was converted into the right to receive 0.5112 shares of the issuer's common stock. On the effective date of the Merger, the closing price of the issuer's common stock was $24.59 per share. Of the 238,540 shares issued to Align Opportunities, LP in the Merger, 3,550 shares are currently being held in escrow and are subject to forfeiture during the escrow period, which shall be until the later of (i) the date that certain threatened or future litigation directly or indirectly arising out of, involving, or related to Oakwood's banking subsidiary, Oakwood Bank, and a former customer of Oakwood Bank is fully and finally resolved or (ii) two (2) years from the closing date of the Merger.
- [F3]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
- [F4]Pursuant to the Agreement and Plan of Reorganization (the "Reorganization Agreement") by and between the issuer and Oakwood, each outstanding and unexercised option to purchase shares of Oakwood common stock became fully vested and was automatically converted into an option to purchase shares of issuer common stock, with the number of underlying shares and the exercise price determined as set forth in the Reorganization Agreement. Each option to purchase shares of issuer common stock is subject to the same terms and conditions as the corresponding option to purchase shares of Oakwood common stock immediately prior to the effective time of the Merger.
Documents
Issuer
Business First Bancshares, Inc.
CIK 0001624322
Entity typeother
Related Parties
1- filerCIK 0002040034
Filing Metadata
- Form type
- 4
- Filed
- Oct 10, 8:00 PM ET
- Accepted
- Oct 11, 4:05 PM ET
- Size
- 14.6 KB