Black Stone Minerals director acquires 1,309 units

Black Stone Minerals, L.P. director Jerry V. Kyle Jr. acquired 1,309 common units representing limited partner interests on October 2, 2026, at a reported price of $14.32 per unit, in lieu of a cash retainer for board service.

Rhea-AI Filing Summary

Black Stone Minerals, L.P. director Jerry V. Kyle Jr. acquired 1,309 common units representing limited partner interests on October 2, 2026, at a reported price of $14.32 per unit, in lieu of a cash retainer for board service. His direct holdings following the transaction were 323,798 units. Reported indirect holdings included 7,665 units held by a trust, 250,088 through Lena C Anderson Kyle 1968 Trust, 4,000 through a family limited partnership, and 350,182 through Lena C A Kyle Trust.

Insider Trade Summary

Grant/Award: 1,309 shares

Grant/Award 5 txns

Insider Kyle Jerry V. Jr.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common units representing limited partner interests F1	1,309	$14.32	$19K
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 — 323,798 shares (Direct); Common units representing limited partner interests — 7,665 shares (Indirect, By trust); Common units representing limited partner interests — 250,088 shares (Indirect, By Lena C Anderson Kyle 1968 Trust); Common units representing limited partner interests — 4,000 shares (Indirect, By family limited partnership); Common units representing limited partner interests — 350,182 shares (Indirect, By Lena C A Kyle Trust)

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.

Key Figures

Common units acquired: 1,309 units Reported price per unit: $14.32 per unit Direct holdings after transaction: 323,798 units +4 more

7 metrics

Common units acquired 1,309 units October 2, 2026

Reported price per unit $14.32 per unit Acquisition reported for October 2, 2026

Direct holdings after transaction 323,798 units October 2, 2026

Indirect holdings through a trust 7,665 units October 2, 2026

Indirect holdings through Lena C Anderson Kyle 1968 Trust 250,088 units October 2, 2026

Indirect holdings through a family limited partnership 4,000 units October 2, 2026

Indirect holdings through Lena C A Kyle Trust 350,182 units October 2, 2026

Key Terms

common units representing limited partner interests, cash retainer, General Partner

3 terms

common units representing limited partner interests financial

"Common units representing limited partner interests"

cash retainer financial

"common units in lieu of a cash retainer"

General Partner financial

"service on the Board of Directors of the 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

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How many BSM units did director Jerry V. Kyle Jr. acquire?

Jerry V. Kyle Jr. acquired 1,309 common units on October 2, 2026, at a reported price of $14.32 per unit. He elected to receive the units in lieu of a cash retainer for service on the Board of Directors of the Partnership’s General Partner.

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

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Available on EDGAR 10/05/2026 - 04:57 PM Accepted by SEC EDGAR 10/05/2026 - 04:57 PM Learn about SEC filing dates

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

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^*

Kyle Jerry V. Jr.

(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)

X	Director		10% 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)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common units representing limited partner interests	10/02/2026		A		1,309	A(1)	$14.32	323,798	D
Common units representing limited partner interests								7,665	I	By trust
Common units representing limited partner interests								250,088	I	By Lena C Anderson Kyle 1968 Trust
Common units representing limited partner interests								4,000	I	By family limited partnership
Common units representing limited partner interests								350,182	I	By Lena C A Kyle Trust

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. 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 Jerry V. Kyle, Jr.	10/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)