Black Stone Minerals (NYSE: BSM) SVP sells 29,386 common units in open market

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Black Stone Minerals, L.P. senior vice president, general counsel and secretary Luke Stevens Putman reported an open-market sale of common units representing limited partner interests. On April 6, 2026, he sold 29,386 common units at a weighted average price of $14.4517 per unit. After this transaction, he directly owned 732,031 common units. A footnote explains the units were sold in multiple trades at prices ranging from $14.31 to $14.64 per unit.

Insider Trade Summary

Net Seller: 29,386 shares ($424,678)

Net Sell 1 txn

Insider Putman Luke Stevens

Role SVP, General Counsel, and Sec

Sold 29,386 shs ($425K)

Type	Security	Shares	Price	Value
Sale	Common units representing limited partner interests	29,386	$14.4517	$425K

Holdings After Transaction: Common units representing limited partner interests — 732,031 shares (Direct)

Footnotes (1)

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Key Figures

Units sold: 29,386 common units Weighted average sale price: $14.4517 per unit Price range of trades: $14.31–$14.64 per unit +1 more

4 metrics

Units sold 29,386 common units Open-market sale on April 6, 2026

Weighted average sale price $14.4517 per unit Price for 29,386 common units sold

Price range of trades $14.31–$14.64 per unit Multiple transactions within this range

Units owned after transaction 732,031 common units Direct ownership following the sale

Key Terms

open-market sale, weighted average price, Common units representing limited partner interests

3 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Common units representing limited partner interests financial

"security_title": "Common units representing limited partner interests""

Form 4 Insider Transactions: What Each Field Means →

04/07/2026 - 05:03 PM

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^*

Putman Luke Stevens

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, General Counsel, and Sec

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common units representing limited partner interests	04/06/2026		S		29,386	D	$14.4517⁽¹⁾	732,031	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These common units were sold in multiple transactions at prices ranging from $14.31 to 14.64, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of common units sold at each separate price within the ranges set forth in this footnote.

Remarks:

	/s/ Luke S. Putman	04/07/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did BSM executive Luke Stevens Putman report?

Luke Stevens Putman reported an open-market sale of Black Stone Minerals common units. He sold 29,386 common units representing limited partner interests, as disclosed in a Form 4 insider filing describing the transaction details and resulting ownership.

How many Black Stone Minerals (BSM) units did the insider sell?

The insider sold 29,386 common units of Black Stone Minerals. These units represent limited partner interests and were disposed of in an open-market transaction reported in the Form 4, with pricing and post-transaction ownership fully detailed.

At what price were the BSM common units sold in this Form 4 filing?

The filing reports a weighted average sale price of $14.4517 per unit. A footnote adds that the 29,386 common units were sold in multiple trades, with individual prices ranging from $14.31 to $14.64 per unit, inclusive.

How many Black Stone Minerals units does the insider hold after the sale?

Following the reported sale, the insider directly holds 732,031 common units. This figure reflects his remaining ownership of common units representing limited partner interests immediately after the 29,386-unit open-market disposition.

What type of security was involved in the Black Stone Minerals insider sale?

The transaction involved common units representing limited partner interests of Black Stone Minerals. These units were sold in the open market, with the Form 4 specifying both the security type and the number of units sold.