Form 4: Business First Bancshares EVP Keith Mansfield Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Keith Mansfield, EVP & COO of Business First Bancshares, reports disposing of 3,438 shares of common stock to cover tax obligations related to restricted stock vesting.
Summary
- On March 31, 2024, Keith Mansfield, EVP & COO of Business First Bancshares, disposed of 3,438 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of restricted stock.
- The shares were disposed of at a price of $22.28 per share.
- Following the transaction, Mansfield beneficially owns 71,897 shares of Business First Bancshares common stock, including unvested restricted stock and shares held in an IRA.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a common practice of executives selling shares to cover tax obligations arising from the vesting of restricted stock.
Key Dates
| Date | Description |
|---|---|
| 02/01/2023 | Grant date of 5,500 shares of unvested restricted stock. |
| 02/01/2024 | Grant date of 7,442 shares of unvested restricted stock. |
| 03/31/2024 | Date of stock disposal transaction. |
| 03/31/2025 | Vesting date for 5,500 shares granted on 2/1/2023 and 3,666 shares granted on 2/1/2024. |
| 03/31/2026 | Vesting date for the remaining 3,776 shares granted on 2/1/2024. |
| 04/02/2024 | Date of Form 4 filing. |
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