Form 4: Black Stone Minerals Director DeWalch Increases Stake Through Unit Acquisition

Director D. Mark DeWalch acquired additional common units of Black Stone Minerals, L.P. in lieu of a cash retainer.

Summary

• On January 3, 2025, D. Mark DeWalch, a director of Black Stone Minerals, L.P., acquired 1,284 common units representing limited partner interests at a price of $14.6 per unit.
• This acquisition was made in lieu of a cash retainer for service on the Board of Directors.
• Following the transaction, DeWalch directly owns 359,530 common units.
• DeWalch also indirectly owns 558,522 units through DeWalch Diversified LP, 40,809 units through the Donald Mark DeWalch Trust, and 6,749 units through his wife.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard regulatory filing detailing an insider transaction. The director taking equity instead of cash is mildly positive.

Positives

• The director's decision to take units in lieu of cash may signal confidence in the company's future performance.

Future Outlook

There is no future outlook provided in the document.

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 routine disclosure of insider activity, common for publicly traded partnerships like Black Stone Minerals.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholders as it signals confidence from a director.

Key Dates