EFSC Enterprise Financial Services Corporation

FORM 4 ☐ 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 OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	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 * IANNACONE NICOLE M	2. Issuer Name and Ticker or Trading Symbol ENTERPRISE FINANCIAL SERVICES CORP [ EFSC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) SEVP, Chief Legal Officer
(Last)          (First)          (Middle) 150 N. MERAMEC	3. Date of Earliest Transaction (MM/DD/YYYY) 5/31/2023
(Street) CLAYTON, MO 63105	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)	Rule 10b5-1(c) Transaction Indication ☐ 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.

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	5/31/2023		J(1)	V	480	A	$34.53 (2)	8247	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 Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. 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 Date		7. 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non Qualified Stock Option (Right to Buy)	$43.81							(3)	2/25/2031	Common Stock	4521		4521	D
Non Qualified Stock Option (Right to Buy)	$48.34							(4)	2/24/2032	Common Stock	4946		4946	D
Non Qualified Stock Option (Right to Buy)	$54.46							(5)	2/28/2033	Common Stock	4985		4985	D
Restricted Share Units	(6)							(7)	(7)	Common Stock	857		857	D
Restricted Share Units	(6)							(8)	(8)	Common Stock	874		874	D
Restricted Share Units	(6)							(9)	(9)	Common Stock	1019		1019	D
Restricted Share Units	(6)							(10)	(10)	Common Stock	9978		9978	D

Explanation of Responses:
(1)	The reporting person is voluntarily reporting the acquisition of shares of the Issuer's common stock pursuant to the Issuer's 2018 Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of December 1, 2022 through May 31, 2023. This transaction is exempt under Section 16b-3(c).
(2)	In accordance with the terms of the ESPP, the reported shares were acquired based on 85% of the closing price of the Issuer's common stock on May 31, 2023.
(3)	This option becomes exercisable after a three year period on 2/25/24.
(4)	This option becomes exercisable after a three year period on 2/24/25.
(5)	The option becomes exercisable after a three year period on 2/28/26.
(6)	The RSU's were granted pursuant to the Company's 2018 Stock Incentive Plan. Each RSU represents the right to receive one share of Common Stock, subject to adjustment as provided in the Grant Agreement.
(7)	The RSU's vest 100% in the first quarter of 2024, subject to continued employment by the reporting person.
(8)	The RSU's vest 100% in the first quarter of 2025, subject to continued employment by the reporting person.
(9)	The RSU vest 100% in the first quarter of 2026, subject to continued employment by the reporting person.
(10)	The RSUs vest over six years in one-third installments on each of February 24, 2024, February 24, 2026, and February 24, 2028. Vesting is subject to continued employment of the reporting person. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Common Stock.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
IANNACONE NICOLE M 150 N. MERAMEC CLAYTON, MO 63105			SEVP, Chief Legal Officer

Signatures
/s/ Nicole M. Iannacone		6/7/2023
**Signature of Reporting Person		Date

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).
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