Hall William G. 4

4 · Business First Bancshares, Inc. · Filed Jun 29, 2026

AI-generated summary of this filing

Updated Jun 29, 2026

BFST Director William G. Hall Receives RSUs & Exercises Options

What Happened

William G. Hall, a director of Business First Bancshares, received 998 time‑based restricted stock units (RSUs) on June 25, 2026 and had 1,016 derivative units (previous RSUs) exercised/converted on June 26, 2026. The filing shows both an acquisition and a disposition of 1,016 shares on June 26, 2026 (no prices or dollar values reported).
Earlier derivative awards from October 1, 2024 (511, 767 and 767 units) and a 1,016 RSU award from June 26, 2025 are reported in the filing history; some awards are unvested and subject to forfeiture under plan terms.

Key Details

Transaction dates/prices:
- 2026-06-25: Grant/award — 998 RSUs (price N/A). (F4: these RSUs vest on 2027-06-25.)
- 2026-06-26: Exercise/conversion (M) — 1,016 shares acquired (price N/A) and 1,016 shares disposed (price N/A). (F5: these were the 1,016 time‑based RSUs awarded 2025‑06‑26 that vested after one year.)
- 2024-10-01: Grants of derivative awards (511, 767, 767) reported at $0.00 (F6: stock options granted under the Reorganization Agreement).
Shares owned after transaction: Not explicitly stated in this Form 4. Footnotes note certain amounts held in escrow (72 shares per F1; 3,550 shares per F2) and a disclaimer of beneficial ownership except for pecuniary interest (F3).
Notable footnotes: F4 describes the 6/25/2026 RSU grant (vests 6/25/2027); F5 confirms the 1,016 RSU award from 6/26/2025; F6 covers stock options from 10/01/2024 under the Reorganization Agreement.
Timeliness: Filing date 2026-06-29 for transactions on 6/25 and 6/26 appears to meet Form 4 timing (filed within the required business-day window).

Context

These were derivative/award transactions (RSUs/options). When RSUs vest they are typically converted into shares; the filing shows the 1,016-unit conversion and a simultaneous disposition the same day (no sale price disclosed), which can indicate net settlement or immediate sale but the filing does not state the method or proceeds.
Awards and exercises are common forms of executive/director compensation and are not, by themselves, a clear buy/sell signal for the stock.

Form 4

Period: 2026-06-25

Director

Transactions

Exercise/Conversion
COMMON STOCK
[F5][F1]
2026-06-26+1,016→ 20,990 total
Award
Restricted Stock Units
[F4]
2026-06-25+998→ 2,014 total
Exercise: $0.00→ Common Stock (998 underlying)
Exercise/Conversion
Restricted Stock Units
[F5]
2026-06-26−1,016→ 998 total
→ Common Stock (1,016 underlying)
Award
Stock Options (Right to Buy)
[F6]
2024-10-01+511→ 511 total
Exercise: $24.45Exp: 2029-10-16→ Common Stock (511 underlying)
Award
Stock Options (Right to Buy)
[F6]
2024-10-01+767→ 767 total
Exercise: $24.45Exp: 2031-01-01→ Common Stock (767 underlying)
Award
Stock Options (Right to Buy)
[F6]
2024-10-01+767→ 767 total
Exercise: $24.45Exp: 2032-08-17→ Common Stock (767 underlying)

Holdings

Footnotes (6)

[F1]Includes 72 shares currently being held in escrow pursuant to the Agreement and Plan of Reorganization (the "Reorganization Agreement") by and between the issuer and Oakwood Bancshares, Inc. ("Oakwood").
[F2]Includes 3,550 shares currently being held in escrow pursuant to the Reorganization Agreement by and between the issuer and Oakwood.
[F3]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
[F4]Reflects the grant of time-based restricted stock units to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 25, 2026. The time-based restricted stock units will fully vest on June 25, 2027. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer. Under the terms of the relevant restricted stock unit grant, the reported unvested restricted stock units are subject to forfeiture upon the occurrence of certain events.
[F5]The reporting person received an award of 1,016 time-based restricted stock units on June 26, 2025, vesting on the first anniversary of the issuance date.
[F6]The stock options (right to buy) were granted to the reporting person on October 1, 2024, pursuant to the Reorganization Agreement by and between the issuer and Oakwood.

Signature

/s/ Heather Roemer, as attorney-in-fact for William G. Hall|2026-06-29

1 file