Black Hills Corporation filings document the formal disclosures of a South Dakota-based electric and natural gas utility with common stock listed on the New York Stock Exchange under BKH. Its SEC reports include Form 8-K updates on operating and financial results, rate-related regulatory matters, material agreements, debt obligations and other capital-structure events.
Proxy and shareholder-vote filings describe director elections, auditor ratification, executive compensation votes and governance matters. The filing record also covers registered common stock and exhibits such as earnings releases, investor presentations and financing documents.
Black Hills Corporation is asking shareholders to vote at its virtual 2026 annual meeting on three items: electing three Class II directors (Scott M. Prochazka, Teresa A. Taylor and Anne G. Waleski), ratifying Deloitte & Touche LLP as auditor for 2026, and approving an advisory say‑on‑pay resolution.
The company highlights a planned all‑stock, tax‑free merger with NorthWestern Energy Group, Inc., under which NorthWestern holders would receive 0.98 Black Hills shares per NorthWestern share. After closing, Black Hills shareholders are expected to own about 56% and NorthWestern shareholders about 44% of the combined regulated utility.
Black Hills reports adjusted earnings per share of $4.10 for 2025, at the midpoint of its $4.00–$4.20 guidance. It completed a $450 million 4.55% senior notes offering due 2031, repaid $300 million of maturing notes, issued 3.8 million common shares for $220 million under an at‑the‑market program, modestly improved its debt‑to‑capitalization ratio, and increased its dividend for the 55th consecutive year. Sustainability goals include cutting electric utility emissions intensity 40% by 2030 and 70% by 2040 from 2005 levels and targeting net zero methane emissions by 2035 for its natural gas utilities.
Black Hills Corporation filed an 8-K to provide investors with detailed financial information tied to its pending all-stock merger of equals with NorthWestern Energy Group. The merger, unanimously approved by both boards, will make NorthWestern a wholly owned subsidiary of Black Hills under a new parent name, Bright Horizon Energy, if completed.
The filing includes NorthWestern’s audited financial statements and combined pro forma financials as exhibits. NorthWestern reported 2025 revenues of $1,610,559 thousand and net income of $181,092 thousand, with total assets of $8,459,691 thousand and long-term debt of $3,181,040 thousand as of December 31, 2025. Deloitte & Touche LLP issued unqualified opinions on both the financial statements and internal control over financial reporting.
Pro forma combined statements for Black Hills and NorthWestern are presented for illustrative purposes only and are not predictions of future results. The merger remains subject to shareholder approvals, clearance under the Hart-Scott-Rodino Act, Federal Energy Regulatory Commission approval, and approvals from key state regulatory commissions. A Form S-4 registering Black Hills shares to be issued in the merger is effective, and joint proxy materials have been mailed ahead of shareholder meetings scheduled for April 2, 2026.
Black Hills Corp (BKH) President and CEO Linden R. Evans reported gifting company stock rather than trading it for cash. On February 17, 2026, he made bona fide gifts totaling 6,311 shares of common stock, including charitable donations, at no sale price. A prior transaction on December 1, 2025 shows a small acquisition of 8.0758 shares through the company’s dividend reinvestment plan. After correcting a temporary software error noted in the footnotes, he directly owns 169,781.063 shares, plus 4,490.861 shares held indirectly through a 401(k) account.
Black Hills Corp senior vice president of utilities Marne M. Jones reported equity compensation activity in company common stock. On February 12, 2026, Jones acquired 835 shares of common stock at $73.21 per share as a grant under the 2023-2025 Performance Share Plan within the Omnibus Incentive Plan.
On the same date, 334.337 shares were disposed of at $73.21 per share to cover tax withholding related to that performance share payout. After these transactions, Jones directly owned 38,667.175 shares of Black Hills Corp common stock.
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.
Evans Linden R reported multiple insider transaction types in a Form 4 filing for BKH. The filing lists transactions totaling 12,592 shares at a weighted average price of $73.21 per share. Following the reported transactions, holdings were 178,640 shares.
Black Hills Corporation (BKH) files its annual report outlining a regulated electric and gas utility business serving about 227,000 electric customers and 1,138,000 natural gas customers across eight states. The company owns 1,386 MW of generation plus extensive electric and gas networks.
BKH has agreed to an all-stock business combination with NorthWestern Energy Group, expected to close in the second half of 2026, creating a combined utility serving approximately 0.7 million electric and 1.5 million gas customers. The report highlights clean energy goals, including a 40% reduction in electric utility emissions by 2030 and net-zero methane emissions for gas utilities by 2035, along with detailed regulatory frameworks, environmental and cybersecurity risks, and human capital metrics for its 2,795 employees.
Black Hills Corp President and CEO Evans Linden reported multiple equity-related transactions in company common stock. On February 6, 2026, he acquired 17,793 shares at $0 through a restricted stock grant under the company’s incentive compensation plan, increasing his direct holdings.
On February 7 and 9, 2026, he disposed of 1,624.735, 1,077.801, and 1,382.349 shares, respectively, at prices of $72.3 and $71.48 to cover tax withholding on vesting of prior restricted stock grants. He also indirectly holds 4,490.861 shares through a 401(k). A software issue understated his post-transaction balance; the filing states he actually owns 170,603.653 shares directly.
Black Hills Corp. senior vice president Marne M. Jones reported equity compensation and related tax-withholding transactions in company common stock. On February 6, 2026, Jones acquired 4,106 shares of common stock through a restricted stock grant under the company’s incentive compensation plan at a stated price of $0, bringing direct holdings to 39,964.399 shares.
On February 7, 2026, 1,417.774 shares were withheld at $72.30 per share to cover taxes on the vesting of a February 7, 2025 restricted stock grant, reducing direct holdings to 38,546.625 shares. On February 9, 2026, additional tax-withholding transactions used 104.368 shares and 275.745 shares at $71.48 per share related to earlier restricted stock grants, leaving Jones with 38,166.512 common shares held directly.