SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

LOWE PAUL

(Last)

(First)

(Middle)

900 S. SHACKLEFORD ROAD

SUITE 605

(Street)

LITTLE ROCK

72211

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/18/2017

3. Issuer Name and Ticker or Trading Symbol
BEAR STATE FINANCIAL, INC. [ BSF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Corporate Banking President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	4,516	D
Common Stock	951	I	401(K) Plan

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units	⁽¹⁾	⁽¹⁾	Common Stock	556	⁽²⁾	D
Restricted Stock Units	⁽³⁾	⁽³⁾	Common Stock	1,000	⁽²⁾	D
Restricted Stock Units	⁽⁴⁾	⁽⁴⁾	Common Stock	5,701	⁽²⁾	D
Restricted Stock Units	⁽⁵⁾	⁽⁵⁾	Common Stock	1,317	⁽²⁾	D
Stock Option (right to buy)	⁽⁶⁾	03/28/2019	Common Stock	16,666	$6.71	D

Explanation of Responses:

1. On January 22, 2014, the reporting person was granted 1,666 restricted stock units, vesting in three equal annual installments on the first, second and third anniversaries of the grant date.

2. Restricted stock units convert into common stock on a one-for-one basis.

3. On February 23, 2015, the reporting person was granted 1,500 restricted stock units, vesting in three equal annual installments on the first, second and third anniversaries of the grant date.

4. On October 1, 2015, the reporting person was granted 5,701 restricted stock units. Subject to the reporting person's continued employment these units will cliff vest and convert into common stock on the third anniversary of the grant date.

5. On January 26, 2016, the reporting person was granted 1,317 restricted stock units, vesting in two equal annual installments on the first and second anniversaries of the grant date.

6. 9,999 options vested on March 28, 2015; 3,334 options vested on March 28, 2016; 3,333 options will vest on March 28, 2017.

	/s/ Paul Lowe by Jeri Pritchett, Attorney-in-Fact	01/25/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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