Sec Form 4/A Filing - JORDAN PHILIP @ Business First Bancshares, Inc. - 2021-02-01

FORM 4/A Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person JORDAN PHILIP 2. Issuer Name and Ticker or Trading Symbol Business First Bancshares, Inc. [ BFST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) EVP&CBO of b1Bank (Last) (First) (Middle) 500 LAUREL STREET, SUITE 101 3. Date of Earliest Transaction (MM/DD/YY) 02/01/2021 (Street) BATON ROUGE, LA70801 4. If Amendment, Date Original Filed (MM/DD/YY) 02/03/2021 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price COMMON STOCK 02/01/2021 A( 1 ) 10,978 A $ 20.7 35,974 ( 2 ) ( 3 ) D COMMON STOCK 6,300 I By Jordan Family Holdings, LLC ( 4 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other JORDAN PHILIP 500 LAUREL STREET, SUITE 101 BATON ROUGE, LA70801 EVP&CBO of b1Bank Signatures /s/ Heather Roemer, as attorney-in-fact for Phillip Jordan 03/05/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Reflects the grant of restricted stock to reporting person. The terms of the restricted stock grant are described in footnote 2 below. ( 2 )Includes (a) 1,425 shares of unvested restricted stock granted on 03/31/2019, all of which will vest on 3/31/2021, (b) 3,687 shares of unvested restricted stock granted on 2/1/2020, which will vest in two equal installments on 3/31/2021 and 3/31/2022, and (c) 10,978 shares of unvested restricted stock granted on 2/1/2021, 3,623 shares of which will vest on each of 3/31/2021 and 3/31/2022 and the remaining 3,733 shares will vest on 3/31/2023. Under the terms of the relevant restricted stock grants, the reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events. ( 3 )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 8,213 shares. ( 4 )Represents the holdings of Jordan Family Holdings, LLC of which the reporting person is a member. The reporting person disclaims beneficial ownership of registrant common stock held by Jordan Family Holdings, LLC except to the extent of his pecuniary interest.

Remarks: This amended Form 4 is being filed to correct the transaction date from 02/01/2020 to 02/01/2021

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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