Ducrest John P. 4

What Happened
John P. Ducrest, a director of Business First Bancshares, Inc. (BFST), received a new grant of 998 time‑based restricted stock units (RSUs) on June 25, 2026, and a separate set of 1,016 RSUs vested on June 26, 2026. The vested 1,016 RSUs were converted into shares and then placed into the company’s Deferred Compensation Plan (they were not sold on the open market). No per‑share prices or cash values are reported (N/A).

Key Details

• Transaction dates: Grant (A) of 998 RSUs on 2026-06-25; vesting/exercise/conversion (M) and disposition into issuer/deferred plan for 1,016 RSUs on 2026-06-26.
• Prices/values: Per‑share price and total values are listed as N/A in the filing.
• Shares owned after transaction: Not specified in the public Form 4 disclosure.
• Notable footnotes:
  • F1: The 998 RSUs granted 6/25/2026 vest on 6/25/2027 and remain subject to forfeiture conditions.
  • F3/F4: The 1,016 RSUs that vested were originally awarded 6/26/2025 and vested on their first anniversary; those vested shares were deferred under the b1BANK Deferred Compensation Plan.
  • F2: Deferred shares will be paid as a lump‑sum cash distribution (plus earnings/losses) upon separation of service, death, or disability.
• Filing timeliness: Form filed 2026-06-29 for transactions on 6/25–6/26/2026; appears to be a timely Form 4 filing.

Context
These transactions are compensatory (grant and vesting of RSUs) rather than open‑market purchases or sales. The vested shares were not sold into the market but were deferred under the company’s Deferred Compensation Plan, which is a common arrangement for executives and directors and does not by itself indicate a change in market view.