X0609 4 2026-06-25 0001624322 Business First Bancshares, Inc. BFST 0002040034 Hall William G. false 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 0 COMMON STOCK 2026-06-26 4 M 0 1016 A 20990 D COMMON STOCK 14939 I By: Align Opportunities, LP Restricted Stock Units 0 2026-06-25 4 A 0 998 A Common Stock 998 2014 D Restricted Stock Units 2026-06-26 4 M 0 1016 D Common Stock 1016 998 D Stock Options (Right to Buy) 24.45 2024-10-01 4 A 0 511 0 A 2029-10-16 Common Stock 511 511 D Stock Options (Right to Buy) 24.45 2024-10-01 4 A 0 767 0 A 2031-01-01 Common Stock 767 767 D Stock Options (Right to Buy) 24.45 2024-10-01 4 A 0 767 0 A 2032-08-17 Common Stock 767 767 D Includes 72 shares currently being held in escrow pursuant to the Agreement and Plan of Reorganization (the "Reorganization Agreement") by and between the issuer and Oakwood Bancshares, Inc. ("Oakwood"). Includes 3,550 shares currently being held in escrow pursuant to the Reorganization Agreement by and between the issuer and Oakwood. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Reflects the grant of time-based restricted stock units to the reporting person under the Business First Bancshares, Inc. 2024 Equity Incentive Plan on June 25, 2026. The time-based restricted stock units will fully vest on June 25, 2027. Each time-based restricted stock unit is economically equivalent to one share of common stock of the issuer. Under the terms of the relevant restricted stock unit grant, the reported unvested restricted stock units are subject to forfeiture upon the occurrence of certain events. The reporting person received an award of 1,016 time-based restricted stock units on June 26, 2025, vesting on the first anniversary of the issuance date. The stock options (right to buy) were granted to the reporting person on October 1, 2024, pursuant to the Reorganization Agreement by and between the issuer and Oakwood. /s/ Heather Roemer, as attorney-in-fact for William G. Hall 2026-06-29