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Black Hills Corp reported a 13G filing showing Vanguard Portfolio Management beneficially owns 5,069,144 shares of Common Stock. That position represents 6.66% of the class. The filing states Vanguard has sole power to vote 29,274 shares and sole dispositive power over 5,069,144 shares. The filing is signed by Ashley Grim on 04/29/2026.
Black Hills Corporation reported that its shareholders approved key proposals supporting an all-stock merger with NorthWestern Energy Group, Inc., including issuing new common shares for the transaction. Investors also backed amendments to increase authorized shares from 100 million to 300 million and to change the company name to Bright Horizon Energy Corporation at closing.
Shareholders authorized raising the company’s borrowing capacity from $8 billion to $20 billion and approved, on an advisory basis, merger-related compensation for named executive officers. The merger remains subject to federal and state regulatory approvals, and the companies continue to expect closing in the second half of 2026.
The Vanguard Group filed Amendment No. 14 to a Schedule 13G/A reporting 0 shares and 0% beneficial ownership of Black Hills Corp common stock. The filing explains an internal realignment on January 12, 2026 that led certain Vanguard subsidiaries to report separately. The amendment is signed by Ashley Grim, Head of Global Fund Administration, dated 03/26/2026.
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.