Form 4: Black Stone Minerals Director Acquires Shares Through Retainer Agreement

Director Jerry V. Kyle, Jr. acquired 1,284 common units of Black Stone Minerals, L.P. through a retainer agreement.

Summary

• Jerry V. Kyle, Jr., a director at Black Stone Minerals, L.P., acquired 1,284 common units on January 3, 2025.
• The acquisition was made at a price of $14.6 per unit.
• These units were received in lieu of a cash retainer for his service on the Board of Directors.
• Following the transaction, Mr. Kyle directly owns 286,832 common units.
• He also indirectly owns 250,088 units through the Lena C Anderson Kyle 1968 Trust, 4,000 units through a family limited partnership, and 350,182 units through the Lena C A Kyle Trust.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, indicating a positive alignment of interests between the director and the company. There are no negative implications.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The use of a retainer agreement to acquire shares aligns the director's interests with those of the shareholders.

Management Comments

• The Reporting Person elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.

Industry Context

This is a standard transaction for directors of publicly traded companies, often used to align their interests with shareholders. It is common for directors to receive equity as part of their compensation.

Comparison to Industry Standards

• Many companies use equity-based compensation for directors to align their interests with shareholders.
• The practice of receiving shares in lieu of cash retainers is a common method of compensation for board members in the energy sector and other industries.
• The price of $14.6 per unit is a reflection of the market value of the company's shares at the time of the transaction.

Stakeholder Impact

• The transaction is likely to have a neutral to slightly positive impact on shareholders, as it demonstrates the director's commitment to the company.

Key Dates

Keywords

Black Stone Minerals, Director, Jerry V. Kyle Jr., Common Units, Retainer Agreement, Beneficial Ownership, SEC Form 4