Nooney Kimberly F 4

What Happened
Kimberly F. Nooney, SVP & CFO of Black Hills Corp (BKH), was granted 4,654 restricted shares on 2026-02-06 (award, code A). To satisfy tax withholding associated with vesting, she transferred/sold a total of 2,432.511 shares across 2026-02-07 and 2026-02-09 (codes F), generating proceeds of $130,510 (1,805.117 shares @ $72.30), $17,888 (250.246 shares @ $71.48), and $26,959 (377.148 shares @ $71.48) — total proceeds $175,357. Net shares retained from this grant are 2,221.489 shares (4,654 − 2,432.511). These disposals were for tax withholding (routine), not an open-market investment sale.

Key Details

• Transaction dates/prices:
  • 2026-02-06: Award of 4,654 shares (price $0.00) — Restricted Stock Grant (A)
  • 2026-02-07: 1,805.117 shares withheld/sold @ $72.30 = $130,510 (F)
  • 2026-02-09: 250.246 shares withheld/sold @ $71.48 = $17,888 (F)
  • 2026-02-09: 377.148 shares withheld/sold @ $71.48 = $26,959 (F)
• Total shares used for tax withholding: 2,432.511 shares; total proceeds ~$175,357.
• Net shares retained from this grant: 2,221.489 shares.
• Footnotes: Withholdings relate to vesting from prior restricted stock grants (2-7-2025, 2-9-2023, 2-9-2024).
• Filing: Report filed 2026-02-10 for transactions through 2026-02-06–02-09; appears to be a timely Form 4 filing.

Context
This was an issuance of restricted stock followed by share withholding to cover tax liabilities (code F) — effectively a sell-to-cover for taxes tied to vesting. Such withholdings are routine and do not necessarily indicate the insider is reducing a broader position; they differ from discretionary open-market sales.