Black Stone Minerals (NYSE: BSM) director awarded 14,255 common units

Rhea-AI Filing Summary

Black Stone Minerals, L.P. director James Whitehead reported an acquisition of company equity on Form 4. On January 13, 2026, he received 14,255 common units representing limited partner interests at a price of $0 per unit, increasing his directly held stake to 51,865 common units.

In addition to these direct holdings, he also reports indirect beneficial ownership of common units through several entities, including a trust and multiple related limited partnerships and companies such as Crain Energy Ltd., Eagle Gathering System Ltd., Lacy Properties Ltd., R Lacy Services Ltd. Retirement Plan, and Crain Resources Ltd.

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^*

Whitehead James

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/13/2026

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	01/13/2026		A		14,255	A	$0	51,865	D
Common units representing limited partner interests								26,153	I	By trust
Common units representing limited partner interests								3,102,146	I	By Crain Energy Ltd.
Common units representing limited partner interests								498,343	I	By Eagle Gathering System Ltd.
Common units representing limited partner interests								2,274,820	I	By Lacy Properties Ltd.
Common units representing limited partner interests								25,152	I	By R Lacy Services Ltd. Retirement Plan
Common units representing limited partner interests								253,195	I	By Crain Resources 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Steve Putman, attorney-in-fact for James Whitehead	01/15/2026
	** 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 BSM director James Whitehead report?

James Whitehead, a director of Black Stone Minerals, L.P. (BSM), reported acquiring 14,255 common units representing limited partner interests on January 13, 2026.

At what price were the Black Stone Minerals units acquired in this Form 4?

The 14,255 common units reported by James Whitehead were acquired at a price of $0 per unit, as disclosed in the Form 4.

How many Black Stone Minerals units does James Whitehead own directly after the transaction?

Following the reported acquisition, James Whitehead directly beneficially owns 51,865 common units of Black Stone Minerals, L.P.

Does James Whitehead report any indirect ownership of Black Stone Minerals units?

Yes. In addition to his direct holdings, he reports indirect beneficial ownership of common units through multiple entities, including a trust, Crain Energy Ltd., Eagle Gathering System Ltd., Lacy Properties Ltd., R Lacy Services Ltd. Retirement Plan, and Crain Resources Ltd.

What type of security is involved in this BSM Form 4 filing?

The security reported in this Form 4 is common units representing limited partner interests of Black Stone Minerals, L.P.

Is this Black Stone Minerals Form 4 filed for one reporting person or multiple?

The Form 4 is indicated as being filed by one reporting person, James Whitehead.