Black Hills CFO reports equity award and tax withholding

Black Hills Corp executive Kimberly F. Nooney reported equity award activity.

Accepted by SEC EDGAR 02/13/2026 - 02:30 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Black Hills Corp executive Kimberly F. Nooney reported equity award activity. On February 12, 2026, she acquired 2,006 shares of common stock at $73.21 per share as a grant under the 2023-2025 Performance Share Plan. On the same date, 805.815 shares were withheld at $73.21 per share to cover taxes on that payout, a non-market disposition. After these transactions, she directly owned 38,691.424 common shares and indirectly held 4.459 shares in a 401(k) account.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Nooney Kimberly F

Role SVP & CFO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,006	$73.21	$147K
Exercise Price or Tax Liability	Common Stock	805.815	$73.21	$59K
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 38,691.424 shares (Direct); Common Stock — 4.459 shares (Indirect, 401K)

Holdings Before and After: Common Stock, 37,491.239 to 38,691.424 shares (Direct)

Footnotes (2)

1. F1. Shares acquired through the 2023-2025 Performance Share Plan under the Company's Omnibus Incentive Plan.
2. F2. Shares used to pay tax withholding associated with 2023-2025 Performance Shares Plan payout from 2-12-2026.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did BKH executive Kimberly Nooney report on February 12, 2026?

Kimberly F. Nooney reported an equity award transaction on February 12, 2026. She acquired 2,006 Black Hills Corp common shares through the 2023-2025 Performance Share Plan and had 805.815 shares withheld to cover related tax obligations.

Was the Black Hills Corp (BKH) Form 4 transaction an open-market stock purchase?

No, the Form 4 does not show an open-market purchase. The 2,006 shares were acquired as a performance share award, and 805.815 shares were withheld to pay taxes, which is an administrative disposition rather than a voluntary market buy or sell.

How many Black Hills Corp (BKH) shares does Kimberly Nooney own after this Form 4 filing?

After the reported transactions, Kimberly F. Nooney directly owned 38,691.424 shares of Black Hills Corp common stock and indirectly held an additional 4.459 shares in a 401(k) plan, as disclosed in the ownership table.

What does the tax-withholding transaction on the BKH Form 4 represent?

The tax-withholding transaction reflects 805.815 shares used to pay taxes on the 2023-2025 Performance Share Plan payout. These shares were disposed of to satisfy tax liabilities, not as a discretionary sale in the open market.

What compensation plan is referenced in Kimberly Nooney’s Black Hills Corp Form 4?

The filing cites the 2023-2025 Performance Share Plan under Black Hills Corp’s Omnibus Incentive Plan. The 2,006 shares acquired are the payout from this plan, awarded as equity compensation tied to performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Nooney Kimberly F

(Last) (First) (Middle)

PO BOX 1400

(Street)

RAPID CITY SD 57709

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BLACK HILLS CORP /SD/ [ BKH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	02/12/2026		A		2,006	A	$73.21(1)	39,497.239	D
Common Stock	02/12/2026		F(2)		805.815	D	$73.21	38,691.424	D
Common Stock								4.459	I	401K

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		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: 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

Explanation of Responses:

1. Shares acquired through the 2023-2025 Performance Share Plan under the Company's Omnibus Incentive Plan.

2. Shares used to pay tax withholding associated with 2023-2025 Performance Shares Plan payout from 2-12-2026.

Remarks:

	/s/Travis Frederickson	02/12/2026
	** 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).
** 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 Number.