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Black Stone Minerals (BSM) director still holds 2.04M units

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Form Type
4

Rhea-AI Filing Summary

Black Stone Minerals, L.P. (BSM) director Stuart Alexander D. reported a bona fide gift of 15,900 common units representing limited partner interests on 2026-08-18 at a reported price of $0.00 per unit. Following this gift, he directly held 2,040,075 common units and also reported multiple indirect holdings through various partnerships and trusts.

Positive

  • None.

Negative

  • None.
Insider Stuart Alexander D.
Role Director
Type Security Shares Price Value
Gift Common units representing limited partner interests 15,900 $0.00 $0.00
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
holding Common units representing limited partner interests -- -- --
Holdings After Transaction: Common units representing limited partner interests — 2,040,075 shares (Direct); Common units representing limited partner interests — 1,251,634 shares (Indirect, By RDS Investments, L.P.); Common units representing limited partner interests — 74,541 shares (Indirect, By Alexander Douglas Stuart Primary Trust); Common units representing limited partner interests — 74,541 shares (Indirect, By Marian Stuart Pillsbury Primary Trust); Common units representing limited partner interests — 159,901 shares (Indirect, By UA R Douglas Stuart III Marital Trust); Common units representing limited partner interests — 74,541 shares (Indirect, By Robert D. Stuart III Primary Trust); Common units representing limited partner interests — 74,541 shares (Indirect, By James McClure Stuart Primary Trust); Common units representing limited partner interests — 239,333 shares (Indirect, By Marian S. Pillsbury Family 2012 GST Trust); Common units representing limited partner interests — 286,976 shares (Indirect, By Ann Peake Stuart 2011 Exempt Trust); Common units representing limited partner interests — 180,775 shares (Indirect, By Robert D. Stuart, Jr. 1996 Marital Trust); Common units representing limited partner interests — 6,687 shares (Indirect, By Barbara E Stuart GST Exempt Trust fbo Alexander D Stuart); Common units representing limited partner interests — 2,112,711 shares (Indirect, By Topsfield Energy Ltd.)
Gifted units 15,900 units Bona fide gift of common units on 2026-08-18
Gift price per unit $0.00 per unit Reported transaction price for the gifted units
Direct holdings after transaction 2,040,075 units Common units directly owned after the gift
Indirect holdings - RDS Investments, L.P. 1,251,634 units Common units held indirectly by RDS Investments, L.P.
Indirect holdings - Topsfield Energy Ltd. 2,112,711 units Common units held indirectly by Topsfield Energy Ltd.
Indirect holdings - Ann Peake Stuart 2011 Exempt Trust 286,976 units Common units held indirectly by this trust
Indirect holdings - Marian S. Pillsbury Family 2012 GST Trust 239,333 units Common units held indirectly by this trust
bona fide gift financial
"Transaction code G is described as a bona fide gift"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
indirect ownership financial
"Holdings reported as indirect ownership through partnerships and trusts"
limited partner interests financial
"Common units representing limited partner interests are reported"
An investor's ownership stake in a limited partnership that gives them rights to a share of profits and losses but not day-to-day control over the business, similar to being a silent partner in a project. For investors this matters because it defines how they earn returns, how much risk and liability they carry, and how easy it is to sell their position — all key factors when valuing and comparing investments.

FAQ

What insider transaction did BSM director Stuart Alexander D. report on this Form 4 for Black Stone Minerals (BSM)?

He reported a bona fide gift of 15,900 common units of Black Stone Minerals, L.P. on 2026-08-18 at a reported price of $0.00 per unit. The transaction is coded as a G gift disposition, not an open-market sale or purchase.

How many Black Stone Minerals (BSM) units does Stuart Alexander D. hold directly after the reported gift?

After the gift, he directly holds 2,040,075 common units of Black Stone Minerals, L.P. This figure reflects his direct ownership position reported as of the 2026-08-18 transaction date and excludes the additional units held indirectly through various entities and trusts.

What is the size of the gifted Black Stone Minerals (BSM) position reported on this Form 4?

The Form 4 shows a gift of 15,900 common units representing limited partner interests in Black Stone Minerals, L.P. The transaction carries a reported per-unit price of $0.00, consistent with a bona fide gift rather than a sale for cash consideration.

Does the Form 4 for Black Stone Minerals (BSM) show any insider sales or purchases by Stuart Alexander D.?

No open-market purchases or sales are reported. The only transaction is a bona fide gift of 15,900 common units. Other line items reflect post-transaction holdings, both direct and indirect, rather than new buy or sell transactions.

What indirect ownership positions in Black Stone Minerals (BSM) are reported for Stuart Alexander D.?

He reports multiple indirect holdings, including 1,251,634 units by RDS Investments, L.P., 2,112,711 units by Topsfield Energy Ltd., and several trusts with holdings such as 286,976 units and 239,333 units. These lines disclose ownership through entities and family trusts.

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SEC Form 4
FORM 4UNITED 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*
Stuart Alexander D.

(Last)(First)(Middle)
1001 FANNIN STREET, SUITE 2020

(Street)
HOUSTON TEXAS 77002

(City)(State)(Zip)

UNITED STATES

(Country)
2. Issuer Name and Ticker or Trading Symbol
Black Stone Minerals, L.P. [ BSM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/18/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common units representing limited partner interests08/18/2026G15,900D$02,040,075D
Common units representing limited partner interests1,251,634IBy RDS Investments, L.P.
Common units representing limited partner interests74,541IBy Alexander Douglas Stuart Primary Trust
Common units representing limited partner interests74,541IBy Marian Stuart Pillsbury Primary Trust
Common units representing limited partner interests159,901IBy UA R Douglas Stuart III Marital Trust
Common units representing limited partner interests74,541IBy Robert D. Stuart III Primary Trust
Common units representing limited partner interests74,541IBy James McClure Stuart Primary Trust
Common units representing limited partner interests239,333IBy Marian S. Pillsbury Family 2012 GST Trust
Common units representing limited partner interests286,976IBy Ann Peake Stuart 2011 Exempt Trust
Common units representing limited partner interests180,775IBy Robert D. Stuart, Jr. 1996 Marital Trust
Common units representing limited partner interests6,687IBy Barbara E Stuart GST Exempt Trust fbo Alexander D Stuart
Common units representing limited partner interests2,112,711IBy Topsfield Energy Ltd.
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
Remarks:
/s/ Steve Putman, attorney-in-fact for Alexander D. Stuart08/19/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)