Black Stone Minerals (NYSE: BSM) Co-CEO granted 80,106 restricted units as equity pay

Rhea-AI Filing Summary

Black Stone Minerals, L.P. Co‑CEO and President Taylor DeWalch reported an equity grant of 80,106 common units representing limited partner interests on February 4, 2026, at a price of $0 per unit as part of compensation. Following this award, DeWalch beneficially owns 139,889 common units directly.

The units are subject to a restricted unit award under the company’s 2025 Long‑Term Incentive Plan. Unless otherwise provided by the plan or award agreement, they vest in three equal installments on January 7, 2027, January 7, 2028, and January 7, 2029, contingent on continued employment with the issuer, its general partner, or affiliates.

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)
02/04/2026

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	02/04/2026		A(1)		80,106	A	$0	139,889	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. Common units subject to a restricted unit award issued pursuant to the Black Stone Minerals, L.P. 2025 Long-Term Incentive Plan (the "LTIP"). Except as otherwise provided in the LTIP or the award agreement governing the award, the common units will vest in three equal installments on each of January 7, 2027, January 7, 2028, and January 7, 2029, so long as the Reporting Person remains continuously employed by the Issuer, Black Stone Minerals GP, L.L.C. (the "General Partner"), or any of their respective affiliates through each such vesting date.

Remarks:

	/s/ Steve Putman, attorney-in-fact for Taylor DeWalch	02/06/2026
	** 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 transaction did BSM Co-CEO Taylor DeWalch report?

Taylor DeWalch reported receiving 80,106 common units of Black Stone Minerals, L.P. on February 4, 2026. The units were acquired at $0 per unit as a restricted unit award under the 2025 Long-Term Incentive Plan, increasing his direct beneficial ownership to 139,889 units.

Is the Taylor DeWalch Form 4 transaction a stock purchase or an award at BSM?

The Form 4 for Taylor DeWalch reports an equity award, not an open‑market purchase. He received 80,106 restricted common units at $0 under Black Stone Minerals’ 2025 Long‑Term Incentive Plan, reflecting compensation-based grants rather than cash-funded buying of units.

How many Black Stone Minerals (BSM) units does Taylor DeWalch own after this grant?

After the reported grant, Taylor DeWalch beneficially owns 139,889 common units of Black Stone Minerals, L.P. This total includes the newly awarded 80,106 restricted units and reflects his direct ownership position as disclosed in the Form 4 filing.

When do Taylor DeWalch’s 80,106 BSM restricted units vest?

The 80,106 restricted common units vest in three equal installments on January 7, 2027, January 7, 2028, and January 7, 2029. Vesting is subject to the terms of the 2025 Long-Term Incentive Plan and requires DeWalch’s continued employment through each vesting date.

What plan governs Taylor DeWalch’s restricted unit award at Black Stone Minerals (BSM)?

Taylor DeWalch’s restricted unit award is issued under the Black Stone Minerals, L.P. 2025 Long-Term Incentive Plan. The plan and the specific award agreement set the vesting schedule and conditions, including the requirement that he remain continuously employed by the issuer or its affiliates.

Does Taylor DeWalch hold his BSM units directly or indirectly?

The Form 4 indicates that Taylor DeWalch holds his 139,889 common units directly. The ownership form is marked as “D” for direct, and there is no indication in the footnotes of indirect ownership through another entity or a beneficial ownership disclaimer.