Day Rick D. 4

What Happened

• Rick D. Day, a director of Business First Bancshares, received a grant of 998 time‑based restricted stock units (RSUs) on June 25, 2026 (award code A). The filing also reports conversion/exercise of 1,016 derivative units into shares on June 26, 2026 (code M) and the immediate disposition (sale) of those 1,016 shares the same day (code M).
• Prices and total dollar values are reported as N/A in the Form 4. The 998 RSUs are subject to time‑based vesting (fully vest 6/25/2027) and forfeiture conditions per the grant terms. The 1,016 units converted on 6/26/2026 relate to an award originally granted on 6/26/2025 that vested on its first anniversary (see footnote F2).

Key Details

• Transaction dates: Grant of 998 RSUs on 2026-06-25; conversion/acquisition and disposition of 1,016 shares on 2026-06-26.
• Prices/values: Reported as N/A for these derivative/award transactions.
• Shares owned after transaction: Not disclosed in the filing.
• Notable footnotes: F1 explains the 998 RSU grant under the 2024 Equity Incentive Plan (vests 6/25/2027). F2 confirms the 1,016 RSUs were awarded 6/26/2025 and vested after one year.
• Filing timing: Form filed 2026-06-29 reporting transactions on 6/25–6/26/2026; the filing does not state any late‑filing designation.

Context

• For retail investors: the converted/ disposed 1,016 shares stem from a prior RSU award that vested and were converted to shares then disposed the same day — a common outcome when vested RSUs are sold upon settlement (for tax withholding or cashing out), but the filing does not state the reason. The new 998 RSU grant is time‑restricted and will not become shares until it vests next year.