Carter Donald Chad 4

What Happened
Carter Donald Chad, EVP, Correspondent Banking at Business First Bancshares (BFST), had 317 shares disposed on March 31, 2026 to satisfy a tax withholding obligation related to an equity award/exercise. The shares were valued at $27.04 each for a total of $8,572. This was a withholding/disposition to cover taxes (transaction code F), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-03-31; Price per share: $27.04; Total value: $8,572.
• Transaction type: F = payment of exercise price or tax liability (shares withheld/disposed to cover taxes).
• Filing date: 2026-04-02 (filed within typical 2-business-day Form 4 reporting window).
• Shares owned after transaction: not specified in the provided filing data.
• Footnote F1: Includes employer 401(k) plan units equivalent to 6,799 shares of common stock.
• Footnote F2: Reporting person holds time-based RSUs: 2,584 granted 12/12/2024 (vesting in two roughly equal installments on year 2 and 3); 2,715 granted 3/1/2025 (vesting in two roughly equal installments on year 2 and 3); and 4,020 granted 3/2/2026 (vesting in three roughly equal annual installments).

Context
Code F transactions are typically withholding of shares to cover tax liabilities arising from option exercises or vesting of awards — effectively a cashless settlement for taxes. Such withholding is routine administrative activity and does not by itself indicate the insider’s view on the company’s stock.