A Form 4 filed with the SEC on August 19, 2026, disclosed that George W. Cummings III, a director of Business First Bancshares, Inc. (NASDAQ:BFST), sold 10,000 shares of common stock on August 18, 2026.

Key Highlights

  • Sale transaction: George W. Cummings III disposed of 10,000 shares of common stock on August 18, 2026, at a price of $31.78 per share.
  • Remaining direct ownership: Following the sale, Cummings directly beneficially owned 201,180 shares of common stock.
  • Indirect ownership: Cummings also holds 3,911 shares indirectly, by spouse, according to the filing.
  • RSU holdings: Cummings holds 998 restricted stock units, granted on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan, with full vesting on June 25, 2027.
  • RSU terms: Each restricted stock unit is economically equivalent to one share of common stock and is subject to forfeiture upon the occurrence of certain events, as the filing states.

Director Cummings Reports Share Sale and RSU Grant at Business First Bancshares

According to the Form 4 filed on August 19, 2026, George W. Cummings III, identified as a director of Business First Bancshares, Inc., sold 10,000 shares of the company's common stock on August 18, 2026, at $31.78 per share. The transaction is coded "S," indicating a sale. After the transaction, Cummings reported direct beneficial ownership of 201,180 shares and indirect beneficial ownership of 3,911 shares held by his spouse.

The filing also discloses that Cummings holds 998 time-based restricted stock units as a derivative security, with a conversion price of $0.0000. Per the filing's explanation of responses, these units were granted on June 25, 2026, under the Business First Bancshares, Inc. 2024 Equity Incentive Plan and will fully vest on June 25, 2027. The filing states that "each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer" and that "the reported unvested restricted stock units are subject to forfeiture upon the occurrence of certain events." The RSUs are held directly.

The Form 4 was signed by Heather Roemer as attorney-in-fact for George W. Cummings III and filed on August 19, 2026. No amendment to a prior filing was indicated.

What Was Disclosed

The filing reported a sale of 10,000 common shares at $31.78 by director George W. Cummings III on August 18, 2026, leaving him with 201,180 shares directly and 3,911 indirectly, plus 998 unvested restricted stock units vesting June 25, 2027.