Form 4: Business First Bancshares Executive Norman Vascocu Jr. Reports Stock Disposal
SEC Form 4 Filing
Norman Jerome Vascocu Jr., EVP, CAO of b1Bank, reports the disposal of 2,554 shares of Business First Bancshares, Inc. common stock to cover tax obligations related to vesting restricted stock.
Summary
- On March 31, 2024, Norman Jerome Vascocu Jr., EVP, CAO of b1Bank, disposed of 2,554 shares of Business First Bancshares, Inc. (BFST) common stock.
- The transaction was executed at a price of $22.28 per share.
- This disposal was related to the satisfaction of tax obligations associated with the vesting of restricted stock.
- Following the transaction, Vascocu directly owns 24,888 shares of BFST common stock.
- Of these shares, 5,500 are unvested restricted stock granted on February 1, 2023, vesting on March 31, 2025.
- An additional 7,442 shares of unvested restricted stock were granted on February 1, 2024, with 3,666 shares vesting on March 31, 2025, and the remaining 3,776 shares vesting on March 31, 2026.
- These unvested restricted stock shares are subject to forfeiture under certain conditions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and is common for executives holding company stock, particularly restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares by an executive for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/01/2023 | Grant date of 5,500 shares of unvested restricted stock, vesting on 3/31/2025 |
| 02/01/2024 | Grant date of 7,442 shares of unvested restricted stock, with vesting dates on 3/31/2025 and 3/31/2026 |
| 03/31/2024 | Date of transaction: Disposal of 2,554 shares of common stock |
| 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 signature on the Form 4 filing |
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