JORDAN PHILIP 4
4 · Business First Bancshares, Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Business First Bancshares (BFST) EVP Jordan Philip Sells 1,033 Shares
What Happened
Jordan Philip, EVP & CBO of b1Bank (a Business First Bancshares subsidiary), disposed of 1,033 shares as a payment for tax liability/exercise price (transaction code F). The shares were disposed at $27.04 per share for a total reported value of $27,932 on March 31, 2026. This was a withholding-style disposition to cover taxes (not an open-market sale for investment purposes).
Key Details
- Transaction date and price: March 31, 2026 — 1,033 shares at $27.04 each ($27,932 total).
- Transaction type: Code F — payment of exercise price or tax liability (shares withheld/disposed to satisfy tax withholding).
- Filing date: April 2, 2026 (Form 4 accession 0001437749-26-011108). No indication of a late filing in the form.
- Shares owned after transaction: Filing notes beneficial holdings that include 4,000 shares held in the reporting person’s retirement account and units of the employer stock fund equal to approximately 14,993 shares (combined ≈ 18,993).
- Unvested awards: Footnote F2 lists unvested time‑based RSUs totaling 13,335 units (granted Dec 12, 2024; Mar 1, 2025; Mar 2, 2026) with scheduled vesting over one to three years.
Context
A Code F disposition typically reflects mandatory withholding to cover taxes from vested awards or option exercises (a routine administrative step). It is not the same as an open‑market sale that might reflect a change in an insider’s view of the company. Retail investors should view this as a tax-related transfer rather than a clear signal of insider sentiment.
Insider Transaction Report
- Tax Payment
COMMON STOCK
[F1]2026-03-31$27.04/sh−1,033$27,932→ 81,008 total
- 13,335
Restricted Stock Units
[F2]Exercise: $0.00→ Common Stock (13,335 underlying)
Footnotes (2)
- [F1]Includes 4,000 shares of common stock of the issuer held by the reporting person's investment retirement account and units of the employer stock fund through the issuer's 401(k) plan equivalent to approximately 14,993 shares of common stock of the issuer.
- [F2]Includes: (a) 3,722 time-based restricted stock units granted to the reporting person on December 12, 2024, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; (b) 3,912 time-based restricted stock units granted to the reporting person on March 1, 2025, which will vest in two substantially equal installments on the second and third anniversary of the issuance date; and (c) 5,701 time-based restricted stock units granted to the reporting person on March 2, 2026, which will vest in three substantially equal installments on the first, second, and third anniversary of the issuance date.