X0306 4 2020-03-12 0001624322 Business First Bancshares, Inc. BFST 0001734775 JORDAN PHILIP 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 EVP&CCO of Business First Bank COMMON STOCK 18243 D COMMON STOCK 2020-03-12 4 P 0 6300 15.84 A 6300 I By Jordan Family Holdings, LLC Includes (a) 1,642 shares of unvested restricted stock granted on 03/31/2018 and (b) 2,808 shares of unvested restricted stock granted on 03/31/2019, 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 4,000 shares held by reporting person's IRA and units of employer stock fund through issuer's 401(k) plan equivalent to approximately 5,333 shares. /s/ Heather Roemer, as attorney-in-fact for Phillip Jordan 2020-03-16