[Form 4] BLACK HILLS CORP /SD/ Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BLACK HILLS CORP director Robert P. Otto reported an open-market sale of 4,109 shares of common stock at $74.2199 per share. After this transaction, he directly holds 10,885.9672 common shares.
The filing also shows an indirect holding of Phantom Stock Units held by a trust, representing 9,764.9995 underlying common shares on a 1-for-1 conversion ratio. These derivative securities are exercisable upon retirement and expire upon retirement under the terms of the agreement.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 4,109 shares ($304,970)
Net Sell
2 txns
Insider
Otto Robert P
Role
Director
Sold
4,109 shs ($305K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 4,109 | $74.2199 | $305K |
| holding | Phantom Stock Unit | -- | -- | -- |
Holdings After Transaction:
Common Stock — 10,885.967 shares (Direct);
Phantom Stock Unit — 9,765 shares (Indirect, By Trust)
Footnotes (1)
- 1 for 1 conversion ratio Derivative security is exercisable upon retirement under terms of the agreement. Derivative security expires upon retirement under terms of the agreement.
Key Figures
Shares sold: 4,109 shares
Sale price: $74.2199 per share
Direct holdings after sale: 10,885.9672 shares
+3 more
6 metrics
Shares sold
4,109 shares
Open-market sale of common stock
Sale price
$74.2199 per share
Price for sold common shares
Direct holdings after sale
10,885.9672 shares
Common stock directly owned post-transaction
Phantom units underlying shares
9,764.9995 shares
Underlying common shares for phantom stock units
Conversion ratio
1-for-1
Phantom stock units to common stock
Exercise condition
Upon retirement
Phantom stock units exercisable and expiring at retirement
Key Terms
Phantom Stock Unit, open-market sale, conversion ratio, derivative security, +1 more
5 terms
Phantom Stock Unit financial
"security_title: "Phantom Stock Unit""
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
conversion ratio financial
"footnote: "1 for 1 conversion ratio""
The conversion ratio is the number of common shares an investor receives when a convertible security (like a bond or preferred share) or an exchangeable instrument is turned into ordinary stock. It matters because it tells investors how much ownership or dilution will occur — similar to knowing how many slices you get when you trade in a coupon — and directly affects the value you get from the convertible and the company’s future share count.
derivative security financial
"footnote: "Derivative security is exercisable upon retirement""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
indirect financial
"ownership_type: "indirect" for Phantom Stock Unit"
