Putman Luke Stevens 4

What Happened

• Putman Luke Stevens, SVP, General Counsel and Secretary of Black Stone Minerals, L.P. (BSM), was issued 68,853 common units under the company’s Long-Term Incentive Plan on February 24, 2026 (reported as an award, code A, acquired at $0.00).
• To satisfy tax withholding obligations, 25,302 of those units were surrendered/disposed (code F) at a deemed value of $15.23 per unit, generating $385,349 in withholding. Net newly acquired units from this settlement = 43,551.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (no late filing indicated).
• Award: 68,853 units granted (acquired at $0.00).
• Tax withholding: 25,302 units disposed at $15.23 each, total $385,349.
• Footnote: The 25,302-unit surrender represents settlement of performance units under the Issuer’s LTIP; for tax withholding the unit value was deemed equal to BSM’s closing price on Feb 24, 2026.
• Shares owned after transaction: not specified in the filing.

Context

• This was a settlement of performance-based long-term incentive units, not an open-market purchase or discretionary sale; the unit withholding to cover taxes is a routine, administrative step and not necessarily a signal of management sentiment.
• Codes: A = award/grant; F = payment of exercise price or tax liability (here, withholding of units).