FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Nelson Andrew C
2. Issuer Name and Ticker or Trading Symbol

Investar Holding Corp [ ISTR ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O INVESTAR HOLDING CORPORATION, 10500 COURSEY BLVD.
3. Date of Earliest Transaction (MM/DD/YYYY)

7/31/2023
(Street)

BATON ROUGE, LA 70816
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 7/31/2023  L(1)  392 A$15.08 136,424 D  
Common Stock 7/31/2023  L(1)(3)  55 A$15.08 8,341 I By AJ Investment Co LLC 
Common Stock 10/31/2023  L(2)  612 A$9.67 137,036 D  
Common Stock 10/31/2023  L(2)(3)  86 A$9.67 8,427 I By AJ Investment Co LLC 
Common Stock 11/1/2023  P  3,000 A$9.87 140,036 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares

Explanation of Responses:
(1) Reflects shares acquired by the Reporting Person under an automatic dividend reinvestment plan. Reporting of this acquisition was deferred under Rule 16a-6(a); however, because of the Reporting Person's purchase of shares on October 31, 2023, the reporting of the acquisition is no longer deferred and is being reported on this Form 4 in accordance with Rule 16a-6(b).
(2) As of October 31, 2023, common stock purchases for the Reporting Person through an automatic dividend reinvestment plan have exceeded the aggregated small acquisition market value of $10,000, as set forth in Rule 16a-6, and are therefore being reported prior to a Form 5 filing.
(3) Mr. Nelson holds an aggregate 90% equity interest in AJ Investment Co LLC. AJ Investment Co LLC is the direct owner of 8,427 shares of Common Stock. Mr. Nelson disclaims beneficial ownership of the shares of Common Stock directly owned by AJ Investment Co LLC for purposes of Section 16, except to the extent of his pecuniary interest in approximately 7,585 shares.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Nelson Andrew C
C/O INVESTAR HOLDING CORPORATION
10500 COURSEY BLVD.
BATON ROUGE, LA 70816
X



Signatures
/s/ Andrew C. Nelson, M.D11/2/2023
**Signature of Reporting PersonDate


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).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.