Carter Donald Chad 4

What Happened
Donald Chad Carter, EVP, Correspondent Banking at Business First Bancshares (BFST), sold 3,778 shares of BFST common stock in an open-market transaction on January 29, 2026. The weighted-average sale price was $27.27 per share, producing total proceeds of approximately $103,026. This was a sale (not a purchase or option exercise), which for many insiders is often routine cashing-out rather than a signal of changed company outlook.

Key Details

• Transaction date: 2026-01-29; reported on Form 4 filed 2026-01-30 (filed next business day; not indicated as late).
• Price(s): Trades executed at $27.27–$27.28; $27.27 is the weighted-average sale price reported (footnote F1).
• Shares sold: 3,778; proceeds ≈ $103,026.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Multiple trades at $27.27–$27.28; reporting person can provide full trade-level details on request.
  • F2: The filer’s reported holdings include 6,799 shares held via the employer stock fund/401(k) equivalent.
  • F3: Includes 1,156 unvested restricted shares (granted Feb 1, 2024) that vest Mar 31, 2026 and remain subject to forfeiture under certain conditions.
  • F4: Includes time-based RSUs: (a) 2,584 RSUs from Dec 12, 2024 (1,272 vest 12/12/2026; 1,312 vest 12/12/2027); (b) 4,052 RSUs from Mar 1, 2025 (1,337 vest 3/1/2026; 1,337 vest 3/1/2027; 1,378 vest 3/1/2028).

Context
This filing records a straightforward open-market sale. Sales by executives can be routine (e.g., diversification, tax needs, or planned sales) and do not by themselves prove a change in the insider’s view of the company. There were no option exercises, gifts, or awards reported in this transaction; the filing primarily documents the disposal of shares and details of other holdings/vesting schedules.