McAllister Kathleen S 4

What Happened

• Kathleen S. McAllister, a director of Black Hills Corp (BKH), received a grant of 1,921 restricted stock units (RSUs) reported as an award on May 1, 2026. The filing lists no purchase price or cash value (N/A) because this is a compensation grant, not an open-market trade.
• This is a director compensation award (not a sale or open-market purchase); such grants are routine for board members and do not necessarily indicate a personal buy/sell decision.

Key Details

• Transaction date: 2026-05-01; Form 4 filed: 2026-05-04 (timely).
• Transaction type/code: Award/Grant (A) of 1,921 RSUs. Price: N/A (compensation grant).
• Conversion: 1-for-1 conversion ratio (F2) — each RSU converts to one share.
• Retirement terms: footnotes indicate the derivative security is exercisable upon retirement under the agreement (F3) and may expire upon retirement under the agreement (F4).
• Award type: Non-employee Director Restricted Stock Unit Grant (F1).
• Shares owned after the transaction: not specified in the filing.

Context

• RSUs are a form of compensation that typically convert to common shares at vesting; they are different from open-market purchases and should be interpreted as compensation rather than a direct bullish personal investment.
• The filing’s footnotes tie certain rights to retirement; the exact vesting schedule or cash value is not detailed in the Form 4.