Cummings George W. III 4
4 · Business First Bancshares, Inc. · Filed Jul 30, 2026
Research Summary
AI-generated summary of this filing
Business First (BFST) Director George Cummings Sells 20,000 Shares
What Happened George W. Cummings III, a director of Business First Bancshares, Inc. (BFST), sold a total of 20,000 shares in two open-market transactions. He sold 10,000 shares on July 28, 2026 at $31.86 ($318,600) and another 10,000 shares on July 29, 2026 at $31.88 ($318,800), for aggregate proceeds of approximately $637,400. These were outright sales (S) reported on a Form 4 and generally reflect liquidity rather than a disclosed change in view of the company.
Key Details
- Transaction dates and prices:
- 2026-07-28: 10,000 shares sold at $31.86 — $318,600
- 2026-07-29: 10,000 shares sold at $31.88 — $318,800
- Total shares sold: 20,000; total proceeds ≈ $637,400.
- Shares owned after transaction: not specified in the provided filing text. The filing does note 223,669 shares are pledged (see footnote).
- Footnotes of note:
- F1: 223,669 shares of the issuer’s common stock are pledged.
- F2: The reporting person received time‑based restricted stock units (RSUs) on June 25, 2026 that vest on June 25, 2027; each RSU equals one share economically and unvested RSUs may be forfeited under certain conditions.
- Filing timing: Form filed 2026-07-30 for trades on 7/28 and 7/29 — no late filing is indicated.
Context
- These were open-market sales (S), which insiders commonly use for personal liquidity or portfolio rebalancing and do not by themselves indicate company performance changes.
- The RSUs noted are unvested and will vest in a year; they are not the shares sold here.
Insider Transaction Report
Form 4
Cummings George W. III
Director
Transactions
- Sale
COMMON STOCK
[F1]2026-07-28$31.86/sh−10,000$318,600→ 251,180 total - Sale
COMMON STOCK
[F1]2026-07-29$31.88/sh−10,000$318,800→ 241,180 total
Holdings
- 3,911(indirect: By Spouse)
COMMON STOCK
- 998
Restricted Stock Units
[F2]Exercise: $0.00→ Common Stock (998 underlying)
Footnotes (2)
- [F1]Includes 223,669 pledged shares of common stock of the issuer.
- [F2]The time-based restricted stock units were granted to the reporting person on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan. 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.
Signature
/s/ Heather Roemer, as attorney-in-fact for George W. Cummings III|2026-07-30