Beard Robert F. 4

What Happened
Robert F. Beard, a non‑employee director of Black Hills Corp (BKH), received a grant of 1,921 restricted stock units (RSUs) reported as an award (transaction code A) on 2026-05-01. The filing lists the per-share price as N/A, indicating this was a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-01; Form 4 filed: 2026-05-04 (appears timely).
• Transaction type/code: Grant/Award (A) — Non‑employee Director Restricted Stock Unit Grant (footnote F1).
• Shares granted: 1,921 RSUs; price per share: N/A; total cash value: N/A (not disclosed in the Form 4).
• Shares owned after transaction: not stated in the reported transaction.
• Footnote F1: confirms these RSUs were granted in Beard’s capacity as a non‑employee director.

Context
RSU grants to directors are routine compensation and do not represent an open‑market buy or sell. RSUs are typically subject to vesting and transfer restrictions; the filing does not detail vesting terms or immediate sale, so this transaction should be viewed as compensation rather than a signal of buying or selling conviction.