Black Stone Minerals (NYSE: BSM) Co-CEO gets 1,958 units, withholds 478

Rhea-AI Filing Summary

Black Stone Minerals, L.P. Co-CEO and President Taylor DeWalch reported equity compensation activity involving common units representing limited partner interests. On February 24, 2026, DeWalch acquired 1,958 common units at no cost as settlement of performance units under the company’s Long-Term Incentive Plan. On the same date, 478 common units were disposed of at $15.23 per unit to satisfy tax withholding obligations related to this award. After these transactions, DeWalch directly held 141,369 common units.

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)
02/24/2026

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	02/24/2026		A(1)		1,958	A	$0	141,847	D
Common units representing limited partner interests	02/24/2026		F(1)		478	D	$15.23	141,369	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 settlement of performance units awarded under the Issuer's Long-Term Incentive Plan. For tax withholding purposes, the value of the common units was deemed to be equal to the closing price of BSM common units on February 24, 2026.

Remarks:

	/s/ Steve Putman, attorney-in-fact for Taylor DeWalch	02/26/2026
	** 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).
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FAQ

What insider transactions did BSM Co-CEO Taylor DeWalch report?

Taylor DeWalch reported receiving 1,958 common units as an equity award and disposing of 478 units to cover taxes. Both transactions involved common units representing limited partner interests of Black Stone Minerals, L.P. and were part of long-term incentive compensation.

Was the Black Stone Minerals (BSM) Form 4 transaction an open-market trade?

The Form 4 does not show open-market trades. It reports an equity award settlement of 1,958 units and a related 478-unit tax-withholding disposition, both tied to performance units under the company’s Long-Term Incentive Plan rather than ordinary market buying or selling.

How many Black Stone Minerals units did Taylor DeWalch hold after these Form 4 transactions?

After the reported transactions, Taylor DeWalch directly held 141,369 common units representing limited partner interests. This balance reflects the grant of 1,958 units and the withholding and disposition of 478 units for tax purposes on the same date.

What price was used for the tax-withholding disposition in the BSM Form 4?

The 478 common units disposed of for tax withholding were valued at $15.23 per unit. The filing notes that, for tax purposes, the value was based on the closing price of BSM common units on February 24, 2026, the transaction date.

What compensation plan is referenced in the Black Stone Minerals (BSM) Form 4 filing?

The filing references performance units awarded under Black Stone Minerals’ Long-Term Incentive Plan. The 1,958 common units reported as acquired represent settlement of those performance units, with a portion of the units withheld and disposed to satisfy associated tax liabilities.