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  4. [Form 4] Black Stone Minerals, L.P. Insider Trading Activity

Director at Black Stone Minerals (NYSE: BSM) takes units as board fee

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Kyle Jerry V. Jr. reported acquisition or exercise transactions in this Form 4 filing.

Black Stone Minerals, L.P. director Kyle Jerry V. Jr. reported receiving 1,342 common units representing limited partner interests at $13.97 per unit. This was a compensation-related grant, where he elected to take units instead of a cash retainer for board service.

Following the grant, he directly holds 322,489 common units350,182 units by the Lena C A Kyle Trust, 4,000 units by a family limited partnership, and 250,088 units by the Lena C Anderson Kyle 1968 Trust.

Positive

  • None.

Negative

  • None.
Insider Kyle Jerry V. Jr.
Role null
Type Security Shares Price Value
Grant/Award Common units representing limited partner interests 1,342 $13.97 $19K
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 — 322,489 shares (Direct, null); Common units representing limited partner interests — 250,088 shares (Indirect, By Lena C Anderson Kyle 1968 Trust)
Footnotes (1)
  1. [object Object]
Compensation grant 1,342 common units Grant of common units in lieu of cash retainer
Grant price $13.97 per unit Price used for 1,342-unit compensation grant
Direct holdings after grant 322,489 common units Direct ownership following the Form 4 grant
Lena C A Kyle Trust holdings 350,182 common units Indirect ownership reported via Lena C A Kyle Trust
Family limited partnership holdings 4,000 common units Indirect ownership via family limited partnership
1968 Trust holdings 250,088 common units Indirect ownership via Lena C Anderson Kyle 1968 Trust
Common units representing limited partner interests financial
"The security reported is common units representing limited partner interests."
Grant, award, or other acquisition financial
"Transaction code A is described as a grant, award, or other acquisition."
in lieu of a cash retainer financial
"The director elected to receive common units in lieu of a cash retainer."
family limited partnership financial
"Some indirect holdings are reported as owned by a family limited partnership."
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Form 4 Insider Transactions: What Each Field Means →
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*
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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026		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 interests07/02/2026A1,342A(1)$13.97322,489D
Common units representing limited partner interests250,088IBy Lena C Anderson Kyle 1968 Trust
Common units representing limited partner interests4,000IBy family limited partnership
Common units representing limited partner interests350,182IBy 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)
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 Jerry V. Kyle, Jr.07/02/2026
** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Kyle Jerry V. Jr. report in his latest Black Stone Minerals (BSM) Form 4?

He reported a grant of 1,342 common units at $13.97 per unit. These units were received as compensation, electing equity instead of a cash retainer for serving on the board of the partnership’s general partner.

How many Black Stone Minerals (BSM) units does Kyle Jerry V. Jr. now hold directly?

After the reported grant, he directly holds 322,489 common units. This figure reflects his direct ownership only and is separate from the additional indirect holdings reported through various family trusts and a family limited partnership.

Were the Black Stone Minerals (BSM) units in the Form 4 an open-market purchase?

No, the 1,342 units were not bought on the open market. They were granted as compensation, with the director choosing common units in lieu of a cash retainer for his service on the board of directors.

What indirect holdings in Black Stone Minerals (BSM) are associated with Kyle Jerry V. Jr.?

Indirectly, 350,182 units are held by the Lena C A Kyle Trust, 4,000 units by a family limited partnership, and 250,088 units by the Lena C Anderson Kyle 1968 Trust, all reported as indirect ownership interests.

What does the compensation election in the BSM Form 4 footnote mean for investors?

The footnote explains the director chose common units instead of a cash retainer. This indicates the transaction is part of routine board compensation rather than discretionary trading, framing the new 1,342-unit position as equity-based pay for board service.