X0306 4 2018-06-14 0001624322 Business First Bancshares, Inc. BFST 0001734772 ROBERTSON ALICIA 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 EVP&CRO of Business First Bank COMMON STOCK 2018-06-14 4 P 0 200 25.05 A 1259 D Includes (a) 94 shares of unvested restricted stock granted on 3/31/2017 and (b) 523 shares of unvested restricted stock granted on 3/31/2018, 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 stock are subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant. /s/ David R. Melville, III, as attorney-in-fact 2018-06-18