Form 4: Black Hills SVP Acquires Shares Under Performance Plan

Black Hills Corporation's SVP of Utilities, Marne M. Jones, acquired shares through a performance plan, with a portion sold for tax withholding.

Summary

• Marne M. Jones, SVP Utilities at Black Hills Corp (BKH), acquired 835 shares of common stock on February 12, 2026, at a price of $73.21 per share.
• The acquisition was made through the 2023-2025 Performance Share Plan under the Company's Omnibus Incentive Plan.
• Concurrently, 334.337 shares were disposed of on the same date at $73.21 per share to cover tax withholding obligations related to the performance share payout.
• Following these transactions, Marne M. Jones beneficially owns 38,667.175 shares of Black Hills Corp common stock.
• The transactions were made pursuant to a Rule 10b5-1(c) pre-planned contract, instruction, or written plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While there's a net reduction in shares due to tax withholding, the underlying event is the successful vesting and payout of a performance share plan, which is a positive for the executive and reflects achievement of company goals.

Positives

• An executive received a payout from a performance share plan, indicating achievement of prior performance goals.
• The acquisition of 835 shares at $73.21 reflects a vested interest in the company's future performance.

Negatives

• A portion of the acquired shares (334.337 shares) was immediately sold to cover tax withholding, resulting in a net decrease in beneficial ownership from 39,001.512 to 38,667.175 shares.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as the vesting and tax-related sale of performance shares, are common occurrences in publicly traded companies. These transactions typically reflect the execution of pre-established compensation plans rather than new strategic moves or market sentiment shifts by the executive.

Stakeholder Impact

• Shareholders: The transaction represents a routine executive compensation event and does not indicate a significant change in the company's strategic direction or financial health. The net change in beneficial ownership is minor relative to the total shares outstanding.
• Employees: The payout under a performance plan could serve as a positive signal regarding the company's compensation structure and ability to reward executives for achieving goals.

Key Dates

Keywords

Black Hills Corp, BKH, Insider Transaction, Form 4, Performance Share Plan, Executive Compensation, Stock Acquisition, Tax Withholding, Marne M. Jones