Bonner Chris 4

What Happened

• Chris Bonner, Senior VP, Chief Financial Officer and Treasurer of Black Stone Minerals, L.P. (BSM), received 1,447 common units as the settlement of performance units under the issuer’s Long‑Term Incentive Plan on Feb 24, 2026. On the same date, 430 of those units were surrendered/disposed to satisfy tax withholding obligations at $15.23 per unit, generating proceeds of $6,549. The award’s value is deemed equal to the closing price on Feb 24, 2026 (implied value ≈ $22,038).

Key Details

• Transaction dates: Feb 24, 2026 (reported on Form 4 filed Feb 26, 2026).
• Grant/Acquisition: 1,447 units (code A) at $0.00 reported as acquired.
• Tax withholding/Disposition: 430 units (code F) disposed at $15.23 each, total $6,549.
• Footnote: Settlement of performance units under the LTIP; for tax withholding the common units were valued at the Feb 24 close (per filing).
• Shares owned after the transaction: not specified in the supplied filing summary.
• Filing timeliness: Form 4 was filed Feb 26, 2026 for a Feb 24 transaction (no late filing indicated).

Context

• This was a routine long‑term incentive settlement with a portion of units withheld to cover tax liabilities (a common practice); it is not an open‑market purchase or sale to take a market position. The underlying event was the conversion/settlement of performance units into common units, not an exercise of options for cash proceeds.