Black Stone Minerals (BSM) Co-CEO reports 5,458-unit tax withholding on vesting

Rhea-AI Filing Summary

Black Stone Minerals, L.P. executive reports tax-related unit withholding

Black Stone Minerals, L.P. Co-CEO, President, and director Taylor DeWalch reported a Form 4 transaction involving the partnership's common units representing limited partner interests. On January 7, 2026, DeWalch had 5,458 common units disposed of at $13.38 per unit under transaction code F, which indicates shares withheld to cover taxes. A footnote explains that this represents tax withholding tied to the vesting of restricted common units issued under the company's long-term incentive plan.

Following this tax withholding transaction, DeWalch beneficially owned 59,783 common units directly. The filing reflects an administrative equity event related to compensation rather than an open-market purchase or sale.

SEC Form 4

FORM 4

UNITED 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

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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^*

DeWalch Taylor

(Last) (First) (Middle)

1001 FANNIN STREET

SUITE 2020

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common units representing limited partner interests	01/07/2026		F(1)		5,458	D	$13.38	59,783	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents tax withholding associated with vesting of restricted common units issued pursuant to LTIP.

Remarks:

	/s/ Steve Putman, attorney-in-fact for Taylor DeWalch	01/09/2026
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did Black Stone Minerals (BSM) report for Taylor DeWalch?

The filing shows that Co-CEO, President, and director Taylor DeWalch had 5,458 common units disposed of on January 7, 2026 under transaction code F.

What does the Form 4 transaction code F mean for the BSM insider trade?

Transaction code F on the Form 4 indicates units were withheld to cover taxes, rather than sold in an open-market trade.

What price was used for the BSM units withheld for Taylor DeWalch's taxes?

The 5,458 common units were valued at $13.38 per unit for the tax withholding transaction reported on January 7, 2026.

How many Black Stone Minerals units does Taylor DeWalch own after this transaction?

After the reported tax withholding, Taylor DeWalch beneficially owns 59,783 common units of Black Stone Minerals, L.P., held directly.

Was Taylor DeWalch’s BSM Form 4 transaction an open-market sale?

No. A footnote states the transaction represents tax withholding tied to the vesting of restricted common units under the company’s long-term incentive plan.

What role does Taylor DeWalch hold at Black Stone Minerals (BSM)?

Taylor DeWalch is reported as a director and an officer, serving as Co-CEO and President of Black Stone Minerals, L.P.