<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-04-28</periodOfReport>

    <issuer>
        <issuerCik>0001624322</issuerCik>
        <issuerName>Business First Bancshares, Inc.</issuerName>
        <issuerTradingSymbol>BFST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001736530</rptOwnerCik>
            <rptOwnerName>WHITE STEVEN GERARD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>500 LAUREL STREET, SUITE 101</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BATON ROUGE</rptOwnerCity>
            <rptOwnerState>LA</rptOwnerState>
            <rptOwnerZipCode>70801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <transactionDate>
                <value>2022-04-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>780</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>23.08</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8499</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36749</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By William A. Robinson Trust</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Reflects the grant of restricted stock to reporting person.  The restricted stock fully vests on May 31, 2022.</footnote>
        <footnote id="F2">Represents the holdings of William A. Robinson Private Foundation, of which the reporting person is the trustee. The reporting person disclaims beneficial ownership of registrant common stock held by William A. Robinson Private Foundation except to the extent of his pecuniary interest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Heather Roemer, as attorney-in-fact for Steven G. White</signatureName>
        <signatureDate>2022-05-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
