Folse Mark P. 4

What Happened

• Mark P. Folse, a director of Business First Bancshares, had 1,016 time‑based restricted stock units (RSUs) vest and convert into 1,016 shares on June 26, 2026 (reported as an "exercise/conversion of derivative," code M). On the same day 998 of those shares were disposed—commonly done to satisfy tax withholding—leaving a net 18 shares issued to him. No prices or dollar values are reported (N/A).
• Separately, Folse was granted 998 new time‑based RSUs on June 25, 2026 under the 2024 Equity Incentive Plan; those RSUs are unvested and will fully vest on June 25, 2027 (reported as an award/grant, code A).

Key Details

• Transaction dates: Grant (A) 998 RSUs on 2026-06-25; Conversion (M) 1,016 shares acquired on 2026-06-26; Conversion/Disposition (M) 998 shares disposed on 2026-06-26.
• Prices/values: All transactions reported as N/A — no per‑share price or dollar amounts disclosed.
• Net shares from the vesting event: 1,016 acquired − 998 disposed = 18 net shares delivered to Folse.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 — the 998 RSU grant (6/25/2026) vests 6/25/2027 and is subject to forfeiture upon certain events. F2 — the 1,016 RSUs were originally granted on 6/26/2025 and vested on the first anniversary (6/26/2026).
• Timeliness: Form 4 filed 2026-06-29 for transactions on 6/25–6/26/2026; filing appears timely (no late filing indicated).

Context

• These were RSU vesting/conversion and grant events (derivative transactions), not open‑market purchases or sales of previously owned shares. The immediate disposition of 998 shares concurrent with the conversion is consistent with tax‑withholding or share‑surrender arrangements commonly used when RSUs vest; the filing itself does not spell out the withholding reason or cash amounts.
• Grants of new RSUs (the 998 awarded 6/25/2026) are routine executive/director compensation and do not by themselves indicate a change in sentiment about the company.