Black Stone Minerals officer reports tax share sale

Black Stone Minerals, L.P. officer Erin Leah Phillips, who serves as Controller (PAO), reported a routine tax-related share transaction.

Rhea-AI Filing Summary

Black Stone Minerals, L.P. officer Erin Leah Phillips, who serves as Controller (PAO), reported a routine tax-related share transaction. On January 7, 2026, 211 common units representing limited partner interests were disposed of at $13.38 per unit under transaction code F, which the footnote explains represents tax withholding tied to the vesting of restricted common units issued under the company’s LTIP. After this withholding, Phillips beneficially owned 1,909 common units, held directly.

Insider Trade Summary

Exercise Price or Tax Liability: 211 shares

Exercise Price or Tax Liability 1 txn

Insider Phillips Erin Leah

Role Controller (PAO)

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common units representing limited partner interests	211	$13.38	$3K

Holdings After Transaction: Common units representing limited partner interests — 1,909 shares (Direct)

Footnotes (1)

1. F1. Represents tax withholding associated with vesting of restricted common units issued pursuant to LTIP.

FAQ

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

What insider transaction did Black Stone Minerals (BSM) report in this Form 4?

The Form 4 reports that officer Erin Leah Phillips disposed of 211 common units of Black Stone Minerals, L.P. on January 7, 2026.

Who is the reporting person in the Black Stone Minerals (BSM) Form 4?

The reporting person is Erin Leah Phillips, an officer of Black Stone Minerals, L.P., serving as Controller (PAO).

How many Black Stone Minerals units were involved and at what price?

The transaction involved 211 common units representing limited partner interests at a price of $13.38 per unit.

What does transaction code "F" mean in this Black Stone Minerals Form 4?

Code "F" here is explained in the footnote as tax withholding associated with vesting of restricted common units issued under the LTIP, rather than an open-market sale.

How many Black Stone Minerals units does Erin Phillips own after this transaction?

Following the tax withholding transaction, Erin Phillips beneficially owned 1,909 common units of Black Stone Minerals, L.P., held directly.

Is this Black Stone Minerals Form 4 transaction part of an equity incentive plan?

Yes. The footnote states the 211 units represent tax withholding associated with vesting of restricted common units issued pursuant to the LTIP (long-term incentive plan).

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

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Accepted by SEC EDGAR 01/15/2026 - 05:31 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^*

Phillips Erin Leah

(Last) (First) (Middle)

1001 FANNIN ST., STE 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)
	Controller (PAO)

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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	01/07/2026		F(1)		211	D	$13.38	1,909	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 tax withholding associated with vesting of restricted common units issued pursuant to LTIP.

Remarks:

	/s/ Steve Putman, attorney-in-fact for Erin Phillips	01/15/2026
	** 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.
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