Putman Luke Stevens 4/A

What Happened
Putman Luke Stevens, Senior Vice President, General Counsel and Secretary of Black Stone Minerals (BSM), sold 29,386 common units on April 6, 2026. The sales generated approximately $424,678 at a weighted average price of $14.45 per share (individual trade prices ranged $14.31–$14.64). This was a sale (routine disposition) executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: April 6, 2026 (reported via an amended Form 4 filed May 6, 2026).
• Price: weighted average $14.45; range $14.31 to $14.64 (multiple transactions).
• Proceeds: ~$424,678 for 29,386 shares (disposed).
• Shares owned after the transaction: not disclosed in this filing.
• Footnotes: Sales were effected pursuant to a Rule 10b5-1 plan adopted December 4, 2025 (the April 7, 2026 Form 4 omitted the 10b5-1 checkbox and plan date; this filing corrects that).
• Timeliness: Initial Form 4 was filed April 7, 2026; this is an amendment to add omitted plan details.

Context
Sales made under 10b5-1 plans are pre-arranged and typically viewed as routine rather than a contemporaneous signal about insider sentiment. As always, a single insider sale does not alone indicate a change in company prospects; retail investors should weigh this against broader insider activity and fundamental factors.