BSM (NYSE: BSM) CFO logs unit award and tax-withholding disposition

Rhea-AI Filing Summary

Black Stone Minerals, L.P. senior vice president, CFO, and treasurer Chris Bonner reported equity compensation activity in common units representing limited partner interests. He acquired 1,447 common units on February 24, 2026 as a grant or award, bringing his direct holdings to 51,108 units immediately after this acquisition. On the same date, 430 common units were disposed of at $15.23 per unit to cover tax withholding obligations tied to this equity award, leaving him with 50,678 common units held directly.

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^*

Bonner Chris

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CFO, and Treasurer

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)		1,447	A	$0	51,108	D
Common units representing limited partner interests	02/24/2026		F(1)		430	D	$15.23	50,678	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 Chris Bonner	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 executive Chris Bonner report on this Form 4?

Chris Bonner reported an equity award and a related tax withholding transaction. He acquired 1,447 common units as a grant and disposed of 430 units to satisfy tax obligations tied to the award, all on February 24, 2026.

How many Black Stone Minerals (BSM) units does Chris Bonner hold after the reported transactions?

After the reported grant and tax-withholding disposition, Chris Bonner directly holds 50,678 common units. His holdings first increased to 51,108 units after the award, then decreased when 430 units were withheld for taxes on February 24, 2026.

Was the BSM Form 4 transaction by Chris Bonner an open-market buy or sell?

The Form 4 shows no open-market buying or selling. It reports an equity grant of 1,447 common units and a 430-unit disposition specifically to cover tax withholding obligations associated with performance units under the long-term incentive plan.

What price was used for the BSM tax-withholding units in Chris Bonner’s Form 4?

The 430 units disposed of for tax withholding were valued at $15.23 per unit. The footnote explains this value equaled the closing price of Black Stone Minerals common units on February 24, 2026, the settlement date of the performance units.

What plan governed the equity award reported by Chris Bonner at Black Stone Minerals (BSM)?

The equity award represents settlement of performance units granted under Black Stone Minerals’ Long-Term Incentive Plan. The Form 4 footnote specifies that these performance units settled into common units, with part of the award used to satisfy related tax obligations.