Black Stone Minerals (NYSE: BSM) counsel sells 30,276 units at $15.2459

Rhea-AI Filing Summary

Black Stone Minerals, L.P. reported that senior vice president, general counsel, and secretary Luke Stevens Putman sold 30,276 common units representing limited partner interests in an open-market transaction on March 5, 2026 at an average price of $15.2459 per unit. After this sale, he directly holds 761,417 units.

Insider Trade Summary

Net Seller: 30,276 shares ($461,585)

Net Sell 1 txn

Insider Putman Luke Stevens

Role SVP, General Counsel, and Sec

Sold 30,276 shs ($462K)

Type	Security	Shares	Price	Value
Sale	Common units representing limited partner interests	30,276	$15.2459	$462K

Holdings After Transaction: Common units representing limited partner interests — 761,417 shares (Direct)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

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).

X

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 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, General Counsel, and Sec

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		S		30,276	D	$15.2459	761,417	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:

Remarks:

	/s/ Luke S. Putman	03/06/2026
	** 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).
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.

FAQ

What insider sale did Black Stone Minerals (BSM) disclose in this Form 4?

Black Stone Minerals disclosed that executive Luke Stevens Putman sold 30,276 common units on March 5, 2026. The units were sold in an open-market transaction at an average price of $15.2459 per unit, and all reported holdings are classified as directly owned after the sale.

Who is Luke Stevens Putman in relation to Black Stone Minerals (BSM)?

Luke Stevens Putman is a senior vice president, general counsel, and secretary of Black Stone Minerals, L.P. In this insider filing, he is the reporting person for the open-market sale of 30,276 common units representing limited partner interests in the partnership.

How many Black Stone Minerals (BSM) units does Luke Stevens Putman own after the sale?

After completing the March 5, 2026 transaction, Luke Stevens Putman is reported to directly own 761,417 common units of Black Stone Minerals. This figure reflects his holdings immediately following the open-market sale of 30,276 common units reported in this Form 4 filing.

At what price were the Black Stone Minerals (BSM) units sold in this insider trade?

The reported insider sale was executed at an average price of $15.2459 per common unit. This price applies to the entire block of 30,276 common units sold by Luke Stevens Putman in the open-market transaction dated March 5, 2026, as disclosed in the Form 4.

Was the Black Stone Minerals (BSM) insider transaction reported as direct or indirect ownership?

The Form 4 classifies Luke Stevens Putman’s holdings as directly owned, using the code “D” for ownership type. The 30,276 common units sold and the remaining 761,417 units after the transaction are all reported under direct ownership, with no indirect ownership nature specified.

What type of security did the Black Stone Minerals (BSM) insider sell?

The insider sale involved common units representing limited partner interests in Black Stone Minerals, L.P. These common units are the equity securities reported in the Form 4, with 30,276 units sold in an open-market transaction at an average price of $15.2459 per unit.