Jensen Tony A 4

What Happened

• Tony A. Jensen, a director of Black Hills Corp. (BKH), was granted 1,921 restricted stock units (RSUs) on May 1, 2026. The award is reported as an acquisition (grant) with no cash price or total dollar value disclosed in the filing. This is a compensation award to a non-employee director rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-01; Form 4 filed: 2026-05-04 (filing appears timely).
• Award amount: 1,921 RSUs; price reported as N/A; no aggregate dollar value provided.
• Shares owned after transaction: not specified in the supplied summary of the filing.
• Footnotes from the filing:
  • F1: Non-employee director restricted stock unit grant.
  • F2: 1-for-1 conversion ratio (each RSU converts to one share).
  • F3–F4: The derivative security is subject to terms related to retirement (becomes exercisable and may expire under retirement provisions).
• No indication of a 10b5-1 plan, cashless exercise, tax withholding sale, or a gift in this transaction.

Context

• RSU grants to directors are common as part of compensation and do not represent an open-market purchase or sale that directly signals bullish or bearish insider trading intent. These units typically convert to common shares per the stated 1:1 ratio when vesting or upon other triggering events defined by the agreement; this grant includes retirement-related exercise/expiration provisions.