X0206 3 2018-04-09 0 0001624322 Business First Bancshares, Inc. BFST 0001734773 MANSFIELD KEITH 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 EVP&COO of Business First Bank Common Stock 7641 D Stock Options (Right to Buy) 17.6500 2026-06-02 Common Stock 40000 D Includes (a) 233 shares of unvested restricted stock granted on 03/31/2017 and (b) 1,488 shares of unvested restricted stock granted on 03/31/2018, in each case subject to vesting in three equal installments over a period of two years beginning on the grant date and subject to the terms of the relevant restricted stock grant. The reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant. Includes 5,000 shares held by reporting person's IRA. Stock Options (Right to Buy) vest in four equal installments beginning on the grant date, June 2, 2016, and ending on June 2, 2019. /s/ David R. Melville, as Attorney-in-Fact 2018-04-09