Welcome to our dedicated page for Black Hills SEC filings (Ticker: BKH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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 Corp SVP & CFO Kimberly F. Nooney reported several equity-related transactions in company common stock. On February 6, 2026, she acquired 4,654 shares at $0 through a restricted stock grant under the company’s incentive compensation plan, bringing her direct holdings to 39,923.75 shares.
Subsequently, on February 7 and 9, 2026, she disposed of shares coded as "F", at prices of about $72.30 and $71.48, to pay tax withholding tied to vesting of earlier restricted stock grants from 2023, 2024, and 2025. She also holds 4.459 shares indirectly in a 401(k) account.
Black Hills Corp executive Sarah Wiltse reported equity compensation and related tax withholding transactions. On February 6, 2026, she acquired 2,327 shares of common stock at $0 through a restricted stock grant under the company’s incentive compensation plan, bringing her direct holdings to 7,733 shares.
On February 7, 2026, 201.027 shares of common stock at $72.30 per share were withheld to cover taxes associated with restricted stock vesting, leaving her with 7,531.973 directly owned shares after these transactions.
Black Hills Corp. Chief Legal Officer Darren T. Nakata received 2,874 shares of common stock on February 6, 2026. The shares were acquired at $0.00 per share through a restricted stock grant under the company’s Incentive Compensation Plan, bringing his directly owned total to 7,495 shares.
Black Hills Corp. CITO Donald Lee Redden Jr. reported an equity award of company stock. On 02/06/2026, he acquired 1,642 shares of Black Hills Corp. common stock at a stated price of $0 per share, reflecting a restricted stock grant under the company’s Incentive Compensation Plan.
After this grant, Redden directly beneficially owned a total of 6,910 common shares. The transaction is classified as an acquisition of non-derivative securities and represents standard equity compensation for an executive officer.
Black Hills Corporation and NorthWestern Energy Group plan an all-stock merger in which each NorthWestern share will convert into 0.98 share of Black Hills common stock. NorthWestern will become a wholly owned subsidiary, and the combined company will adopt a new name before or at closing.
To complete the deal, Black Hills shareholders must approve issuing new shares, tripling authorized stock to 300 million, increasing authorized indebtedness to $20 billion, and a corporate name change. NorthWestern shareholders must adopt the Merger Agreement. Both special meetings are virtual on April 2, 2026, and there are no appraisal rights.
Black Hills Corporation reviewed a strong 2025 and outlined its outlook while updating progress on its planned merger with NorthWestern Energy. The company delivered GAAP EPS of $3.98, or $4.10 adjusted, up 5% from $3.91 in 2024, driven by $0.95 per share of new rates and rider recovery plus customer growth, which offset higher O&M, interest and depreciation.
Management introduced 2026 adjusted EPS guidance of $4.25–$4.45, implying 6% growth at the midpoint, and reaffirmed a long-term 4%–6% EPS growth target with confidence in the upper half. The company highlighted a $4.7 billion capital plan focused on safety, reliability and growth, including the 260‑mile Ready Wyoming transmission project and the 99‑MW Lange II gas plant, plus a 50‑MW Colorado battery project for 2027.
Black Hills emphasized a data center pipeline of more than 3 gigawatts, with Microsoft and Meta expected to reach about 600 MW of load by 2030, which management expects to contribute more than 10% of consolidated EPS starting in 2028. The company also noted 56 consecutive years of dividend increases and said it aims to close the NorthWestern Energy merger in the second half of the year, following joint regulatory applications and an S‑4 filing with shareholder votes planned for early April.
Black Hills Corporation furnished an update on its recent performance by announcing that it issued a press release covering financial results for the fourth quarter of 2025. The company also prepared an investor presentation to support these results.
The press release dated Feb. 4, 2026 is included as Exhibit 99.1, and a related presentation dated Feb. 5, 2026 is included as Exhibit 99.2. This information is furnished under Item 2.02 as results of operations and financial condition and is not deemed filed for liability purposes under the Securities Exchange Act.
Black Hills Corporation has called a special virtual shareholder meeting for 10:00 a.m. Mountain Time on April 2, 2026. Shareholders of record on January 28, 2026 can vote.
They will vote on issuing Black Hills common stock for a planned merger with NorthWestern Energy, tripling authorized shares from 100 million to 300 million, changing the company name, and increasing authorized indebtedness from $8 billion to $20 billion. Shareholders will also vote on an advisory proposal covering merger-related executive compensation and a possible adjournment of the meeting. Black Hills plans to file a Form S-4 registration statement and joint proxy statement/prospectus for the transaction.
Black Hills Corporation has called a special virtual shareholder meeting for 10:00 a.m. Mountain Time on April 2, 2026. Shareholders of record on January 28, 2026 can vote.
They will vote on issuing Black Hills common stock for a planned merger with NorthWestern Energy, tripling authorized shares from 100 million to 300 million, changing the company name, and increasing authorized indebtedness from $8 billion to $20 billion. Shareholders will also vote on an advisory proposal covering merger-related executive compensation and a possible adjournment of the meeting. Black Hills plans to file a Form S-4 registration statement and joint proxy statement/prospectus for the transaction.
Black Hills Corporation has filed an S-4 for an all-stock merger with NorthWestern Energy Group, creating a combined regulated utility to be renamed later. A Black Hills subsidiary will merge into NorthWestern, which will become a wholly owned subsidiary of Black Hills.
At closing, each share of NorthWestern common stock will be converted into the right to receive 0.98 share of Black Hills common stock. Both companies will hold virtual special shareholder meetings on April 2, 2026, where investors will vote on merger-related proposals, including Black Hills share authorization, name change and indebtedness limit increases, and NorthWestern’s merger approval.
The boards of both companies unanimously recommend voting in favor of their respective merger proposals. The deal is intended to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code and will be accounted for as an acquisition, with NorthWestern’s assets and liabilities recorded at fair value on Black Hills’ books.