Form 4: Black Stone Minerals Co-CEO Sells Units for Tax

Black Stone Minerals Co-CEO and President Fowler Carter disposed of 2,511 common units valued at $13.38 each for tax withholding purposes related to restricted unit vesting.

Summary

• Fowler Carter, Co-CEO and President of Black Stone Minerals, L.P., reported a transaction involving common units.
• On January 7, 2026, 2,511 common units representing limited partner interests were disposed of.
• The disposal was for tax withholding associated with the vesting of restricted common units issued pursuant to a Long-Term Incentive Plan (LTIP).
• The units were disposed of at a price of $13.38 per unit.
• Following this transaction, Fowler Carter directly beneficially owns 44,268 common units.

Sentiment

Score: 5

Explanation: Neutral, as the transaction is a routine tax withholding event associated with the vesting of restricted stock, not a discretionary sale or purchase indicating a change in sentiment.

Future Outlook

This Form 4 filing reports a historical insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing details a routine insider transaction for tax purposes, which is common for executives receiving equity compensation. It does not provide information directly related to broader industry trends or competitive landscape.

Stakeholder Impact

• Minimal direct impact on shareholders as it's a routine tax-related disposal of a small portion of vested units, not a discretionary sale indicating a change in confidence.

Key Dates

Recommendation

The transaction reported is a non-discretionary disposal of common units for tax withholding purposes related to the vesting of restricted stock. This is a common event for executives receiving equity compensation and does not reflect a change in the reporting person's investment sentiment or the company's operational performance. Therefore, it provides no new information to alter an existing investment thesis, warranting a 'hold' recommendation.

Keywords

Black Stone Minerals, BSM, Form 4, insider transaction, tax withholding, restricted units, LTIP, Fowler Carter, common units