Putman Luke Stevens 4

What Happened

• Putman Luke Stevens, Senior VP, General Counsel and Secretary of Black Stone Minerals, L.P. (BSM), sold 29,386 common units on April 6, 2026. The filing reports a weighted-average sale price of $14.45 per unit for total proceeds of about $424,678. This was a disposition (sale), not a purchase.

Key Details

• Transaction date: 2026-04-06; Filing date: 2026-04-07 (filed the next day).
• Reported weighted-average price: $14.45; actual sale prices ranged from $14.31 to $14.64 (multiple transactions).
• Total reported proceeds: approximately $424,678.
• Shares/units owned after the transaction: not specified in the provided filing excerpt.
• Footnote: The price shown is a weighted average; the seller says they can provide the exact number of units sold at each separate price within the $14.31–$14.64 range upon request to the issuer, shareholders, or the SEC.
• No indication in the filing excerpt of a 10b5-1 plan, tax withholding, gift, exercise, or other special code.

Context

• This was an open-market sale (disposition), which is often routine insider selling (e.g., for diversification or personal liquidity) and does not by itself indicate company performance or insider sentiment.
• For retail investors tracking insider activity, purchases generally signal stronger direct insider conviction than routine sales; treat single sales as one data point in broader research.