Black Stone Minerals director acquires 1,309 units

The director chose common units instead of a cash retainer under a previous arrangement.

Rhea-AI Filing Summary

Black Stone Minerals, L.P. director Anne Lenoir Hamman acquired 1,309 common units on October 2, 2026, at a reported price of $14.32 per unit. Under a previous arrangement, she elected to receive units instead of a cash retainer for service on the board of the Partnership’s General Partner. Her direct holdings were 9,737 units following the acquisition. A family limited partnership was reported as holding 502,703 units; Hamman disclaimed beneficial ownership of those securities except to the extent of her pecuniary interest.

Insider Trade Summary

Grant/Award: 1,309 shares

Grant/Award 2 txns

Insider Hamman Anne Lenoir

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 F2	--	--	--

Holdings After Transaction: Common units representing limited partner interests — 9,737 shares (Direct); Common units representing limited partner interests — 502,703 shares (Indirect, By family limited partnership)

Footnotes (2)

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.
2. F2. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Key Figures

Common units acquired: 1,309 units Reported price per unit: $14.32 per unit Direct common-unit holdings: 9,737 units +1 more

4 metrics

Common units acquired 1,309 units October 2, 2026

Reported price per unit $14.32 per unit Acquisition on October 2, 2026

Direct common-unit holdings 9,737 units Following the acquisition on October 2, 2026

Family limited partnership common units 502,703 units Reported indirect holding on October 2, 2026

Key Terms

limited partner interests, pecuniary interest, beneficial ownership

3 terms

limited partner interests financial

"Common units representing limited partner interests"

An investor's ownership stake in a limited partnership that gives them rights to a share of profits and losses but not day-to-day control over the business, similar to being a silent partner in a project. For investors this matters because it defines how they earn returns, how much risk and liability they carry, and how easy it is to sell their position — all key factors when valuing and comparing investments.

pecuniary interest regulatory

"except to the extent of her pecuniary interest therein"

beneficial ownership regulatory

"disclaims beneficial ownership of these securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BSM common units did director Anne Lenoir Hamman acquire?

Anne Lenoir Hamman acquired 1,309 common units on October 2, 2026, at a reported price of $14.32 per unit. She elected to receive units instead of a cash retainer under a previous arrangement for board service.

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

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Available on EDGAR 10/05/2026 - 04:54 PM Accepted by SEC EDGAR 10/05/2026 - 04:54 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^*

Hamman Anne Lenoir

(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	9,737	D
Common units representing limited partner interests								502,703(2)	I	By family limited partnership

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.

2. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.

Remarks:

	/s/ Steve Putman, attorney-in-fact for Anne Hamman	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)