Hall William G. 4

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.