Cummings George W. III 4

What Happened
George W. Cummings III, a director of Business First Bancshares, sold 15,000 shares of BFST in an open-market sale on 2026-06-08 at $28.54 per share, generating proceeds of approximately $428,100. This was a sale (not a purchase or option exercise).

Key Details

• Transaction date and price: 2026-06-08, sale at $28.54 per share.
• Transaction size: 15,000 shares; proceeds ≈ $428,100.
• Filing: Form 4 filed 2026-06-09 (filed timely within reporting window).
• Shares owned after transaction: not specified in the provided details.
• Footnote: ownership disclosure includes 223,669 pledged shares of the issuer’s common stock.
• Transaction code: S (Sale). No 10b5‑1 plan or tax-withholding note was indicated in the provided data.

Context
Sales by directors can be routine (liquidity or portfolio management) and do not by themselves indicate a change in company fundamentals. The footnote that 223,669 shares are pledged means some of the director’s holdings are used as collateral for obligations, which is a separate disclosure from this sale.