Black Stone Minerals Insider Purchases 15,300 Units — 09/11–09/12/2025
Rhea-AI Filing Summary
Thomas L. Carter Jr., who serves as CEO, President, Chairman and a director of Black Stone Minerals, L.P. (BSM), reported purchases of common units in two transactions. On 09/11/2025 he purchased 1,300 common units at a weighted-average price of $12.3915, bringing his reported beneficial ownership to 3,498,701 units. On 09/12/2025 he purchased 14,000 common units at a weighted-average price of $12.586, increasing reported ownership to 3,512,701 units. The Form 4 also lists multiple indirect holdings attributed to trusts, a spouse, and Carter2221, Ltd., including an indirect holding of 11,481,503 units by Carter2221, Ltd. The filing is signed by attorney-in-fact Steve Putman on 09/12/2025.
Positive
- Insider purchases disclosed: 15,300 common units purchased in two transactions
- Detailed indirect holdings listed: trusts, spouse, and Carter2221, Ltd. (including 11,481,503 units)
- Weighted-average prices provided: $12.3915 and $12.586 with explanatory footnotes
Negative
- None.
Insights
TL;DR: Insider bought 15,300 units over two days at ~$12.39–$12.59, modestly increasing direct holdings.
The Form 4 documents two open-market purchases totaling 15,300 common units by Thomas L. Carter Jr. at weighted-average prices of $12.3915 and $12.586, raising his reported direct beneficial ownership to 3,512,701 units. The filing also enumerates substantial indirect holdings through trusts and Carter2221, Ltd. This disclosure is a routine Section 16 report showing insider accumulation via market purchases; it does not include sales or derivative transactions. The magnitude of the direct purchases is small relative to the large indirect positions disclosed.
TL;DR: Filing shows transparent disclosure of insider purchases and material indirect holdings across trusts and entities.
The report clearly identifies the reporting person as CEO, President, Chairman and director, and itemizes both direct purchases and various indirect beneficial ownership interests held by trusts, a spouse, and Carter2221, Ltd. The presence of attorney-in-fact signature is noted. The Form 4 contains explanatory footnotes about weighted-average pricing but no amendments or derivative activity. From a governance perspective, the document provides required transparency on changes in ownership.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common units representing limited partner interests | 14,000 | $12.586 | $176K |
| Purchase | Common units representing limited partner interests | 1,300 | $12.3915 | $16K |
| holding | Common units representing limited partner interests | -- | -- | -- |
| holding | Common units representing limited partner interests | -- | -- | -- |
| holding | Common units representing limited partner interests | -- | -- | -- |
| holding | Common units representing limited partner interests | -- | -- | -- |
| holding | Common units representing limited partner interests | -- | -- | -- |
| holding | Common units representing limited partner interests | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $12.38 to $12.40, 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 purchased at each separate price within the ranges set forth in this footnote. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $12.53 to $12.63, 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 purchased at each separate price within the ranges set forth in this footnote.
