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    David R. Melville

    Chairman, President, and Chief Executive Officer at Business First Bancshares
    Board
    Since March 2011
    Age
    50 years
    Education
    Earned a bachelor's degree in social studies from Harvard College, a Master of Science in Management from the London School of Economics, and graduated from the Graduate School of Banking at Louisiana State University.
    Tenure
    Joined BFST in February 2006 as Chief Administrative Officer, was promoted to Chief Executive Officer in March 2011, and later assumed the role of Chairman, President, and Chief Executive Officer.

    Also at Business First Bancshares

    CC
    Chad Carter
    EVP of Correspondent Banking
    GR
    Gregory Robertson
    Executive Vice President and Chief Financial Officer
    KM
    Kathryn Manning
    Executive Vice President and Chief Risk Officer

    About

    David R. Melville, III currently serves as the Chairman, President, and Chief Executive Officer of Business First Bancshares, Inc. and its subsidiary, b1BANK, reflecting a long and steady career in the banking industry.

    He joined the institution at its inception in February 2006 as the Chief Administrative Officer and later ascended to the role of CEO in March 2011, marking a significant progression in his professional journey.

    With a solid foundation built on academic achievements that include a bachelor's degree from Harvard College, a Master of Science from the London School of Economics, and further specialized training from the Graduate School of Banking at Louisiana State University, he also brings leadership skills honed during his service as a captain in the U.S. Air Force.

    His leadership has been pivotal in driving the growth and stability of the organization, balancing a focus on strategic decision making with a commitment to professional excellence.

    $BFST Performance Under David R. Melville

    Past Roles

    OrganizationRoleDate RangeDetails
    b1BANK Chief Administrative Officer Feb 2006 – Mar 2011 Served before promotion to CEO in Mar 2011
    Business First Bancshares Various Management Roles 2006 – 2011 Held multiple management roles prior to further promotion
    b1BANK President and Chief Executive Officer Mar 2011 – Oct 2024 Transitioned in Oct 2024 to focus solely on b1BANK CEO while retaining BFST leadership roles
    U.S. Air Force Captain Prior to 2006 Served before joining BFST

    External Roles

    OrganizationRoleDate RangeDetails
    Louisiana’s Committee of 100 Executive Board Member N/A N/A
    Louisiana Association of Public Charter Schools Chair N/A N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$775,500 Annual (2024)Increased by 10% from 2023 due to promotion to Chairman
    Time-Based Restricted Stock Units14,966 units; Grant Date Fair Value: $423,388 Vests in three equal annual installments starting on the first anniversary (Dec 12, 2025 onward)Granted on December 12, 2024 as part of the long-term incentive program
    Outstanding Equity Award (Restricted Stock) - Grant 115,494 units; Market Value: $398,196 Vests annually in 33.3% increments; final tranche on March 31, 2025Granted on February 1, 2023
    Outstanding Equity Award (Restricted Stock) - Grant 219,909 units; Market Value: $511,661 Vests annually in 33.3% increments; final tranche on March 31, 2026Granted on February 1, 2024
    Outstanding Equity Award (Restricted Stock) - Grant 314,966 units; Market Value: $384,626 Vests annually in 33.3% increments; final tranche on December 12, 2027Granted on December 12, 2024
    Other Compensation$41,849 Paid in 2024Breakdown: 401(k) Match: $13,800; Executive Allowance: $12,000; Club Dues: $16,049
    Change in Pension Value$164,290 Recognized in 2024Increase in accrued benefits under the Supplemental Executive Retirement Plan

    Performance Compensation

    Data from  FY 2024

    Annual Cash Bonus

    MetricValueDetails
    Base Salary$775,500 Used as the basis for bonus calculation
    Target Opportunity (% of Base Salary)65% Equals $504,075
    Actual Earned Award$657,871 130.51% of target
    Weight - Corporate Performance80% Achievement: 100.5% of target
    Weight - Individual Performance20% Achievement: 30% of target
    Threshold50% Minimum performance level
    Target100% Full target performance level
    Superior150% Maximum performance level
    Vesting / PayoutNo vesting Paid out based on annual performance

    Performance-Based Restricted Stock Units

    MetricValueDetails
    Grant DateDecember 12, 2024 Date of grant in 2024
    Units Granted14,966 Performance-based RSUs
    Grant Date Fair Value$423,388 Valuation on grant date
    Grant Date Stock Price$28.29 Closing price on grant date
    Metric - ROATCE Weight50% Threshold: 80% of target; Superior: 110% of target
    Metric - Peer-Relative EPS Growth Weight50% Threshold: 25th percentile; Target: 50th percentile; Superior: 75th percentile
    Vesting ScheduleCliff vest on December 12, 2027 Contingent on achieving performance metrics
    Evaluation PeriodJanuary 1, 2024 - December 31, 2026 Performance measurement period
    Vesting Range0% to 150% Based on performance relative to targets
    Additional ConditionsCapped if total shareholder return is negative Adjustments based on company performance