STOCK TITAN

Black Stone Minerals director acquires 1,658 units

Black Stone Minerals, L.P. director Alexander D. Stuart acquired 1,658 common units on October 2, 2026, at a reported price of $14.32 per unit under a previous arrangement to receive units in lieu of a cash retainer for board service.

(Neutral)

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
4

Rhea-AI Filing Summary

Black Stone Minerals, L.P. director Alexander D. Stuart acquired 1,658 common units on October 2, 2026, at a reported price of $14.32 per unit under a previous arrangement to receive units in lieu of a cash retainer for board service. As of October 2, 2026, his reported direct holdings after the transaction were 2,041,733 units. Indirect holdings listed that date include RDS Investments, L.P. (1,251,634 units), Topsfield Energy Ltd. (2,112,711 units), and positions held through trusts.

Insider Stuart Alexander D.
Role Director
Type Security Shares Price Value
Grant/Award Common units representing limited partner interests F1 1,658 $14.32 $24K
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 — 2,041,733 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.)
Footnotes (1)
  1. F1. Pursuant to a previous arrangement, the Reporting Person elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.
Common units acquired 1,658 units October 2, 2026
Reported price per unit $14.32 per unit Acquisition on October 2, 2026
Direct holdings after transaction 2,041,733 units As of October 2, 2026
Indirect holdings through RDS Investments, L.P. 1,251,634 units As of October 2, 2026
Indirect holdings through Alexander Douglas Stuart Primary Trust 74,541 units As of October 2, 2026
Indirect holdings through UA R Douglas Stuart III Marital Trust 159,901 units As of October 2, 2026
Indirect holdings through Marian S. Pillsbury Family 2012 GST Trust 239,333 units As of October 2, 2026
Indirect holdings through Topsfield Energy Ltd. 2,112,711 units As of October 2, 2026
limited partner interests technical
"Common units representing limited partner interests"
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.
cash retainer financial
"in lieu of a cash retainer"
General Partner technical
"Partnership's General Partner"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.

FAQ

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

How many BSM units did Alexander D. Stuart receive, and at what price?

Alexander D. Stuart acquired 1,658 common units on October 2, 2026, at a reported price of $14.32 per unit. Under a previous arrangement, he elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.

What BSM unit holdings are listed through trusts for Alexander D. Stuart?

The indirect trust holdings listed on October 2, 2026 include Alexander Douglas Stuart Primary Trust, 74,541 units; Marian Stuart Pillsbury Primary Trust, 74,541; UA R Douglas Stuart III Marital Trust, 159,901; Robert D. Stuart III Primary Trust, 74,541; James McClure Stuart Primary Trust, 74,541; Marian S. Pillsbury Family 2012 GST Trust, 239,333; Ann Peake Stuart 2011 Exempt Trust, 286,976; Robert D. Stuart, Jr. 1996 Marital Trust, 180,775; and Barbara E Stuart GST Exempt Trust fbo Alexander D Stuart, 6,687.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Learn about SEC filing dates
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)
10/02/2026
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 interests10/02/2026A1,658A(1)$14.322,041,733D
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:
1. Pursuant to a previous arrangement, the Reporting Person elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.
Remarks:
/s/ Steve Putman, attorney-in-fact for Alexander D. Stuart10/05/2026
** 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)

Keep reading