Evans Linden R 4

What Happened

• Linden R. Evans, President & CEO of Black Hills Corp (BKH), reported two gifts of shares and a small dividend-reinvestment acquisition. On 2026-02-17 he disposed of 2,580 and 3,731 shares (gifts). On 2025-12-01 he acquired 8.076 shares through the company’s Dividend Reinvestment Plan at $72.45/share for a total of about $585.
• The gifts are disposals (not open-market sales) and one is noted as a charitable donation; the DRIP purchase is a routine reinvestment of dividends (a modest buy-side activity).

Key Details

• Transaction dates: 2025-12-01 (DRIP acquisition of 8.076 shares at $72.45, total ~$585); 2026-02-17 (gifts of 2,580 and 3,731 shares; no sale price reported).
• Shares owned after transactions: filing footnote says the post-transaction balance was understated by 1,000 shares due to a software issue — the correct total ownership is 169,781.063 shares.
• Footnotes: F1 = gifting of shares; F2 = charitable donation; F3 = shares acquired via Dividend Reinvestment Plan; F4 = software error corrected the share total.
• Filing timeliness: Report filed 2026-02-18 for a 2025-12-01 acquisition — this appears to be a late Form 4 filing for the DRIP transaction.

Context

• Gifts (including charitable donations) are disposals that usually reflect estate/charitable planning rather than a judgment on the company’s prospects. They are not the same as an open-market sale.
• Dividend Reinvestment Plan (DRIP) purchases are routine and typically small; this 8.076-share acquisition is minor in dollar terms (~$585).
• Late filings can matter to regulators and investors because timely disclosure is required; the filing here discloses the transactions but notes the late reporting.