Company: BSM
Filing Date: 2025-06-18
Form Type: 8-K
Source: 0001621434-25-000086
Chunk: 0

Company: Black Stone Minerals, L.P.
Filing Date: 2025-06-18
Form: 8-K
Item: Item 5.02
Chunk 0
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

Adoption of LTIP

On June 12, 2025, the unitholders of Black Stone Minerals, L. P. (the “ Partnership”) approved the adoption of the Black Stone Minerals, L. P. 2025 Long-Term Incentive Plan (the “2025 LTIP”) at the Partnership’s 2025 annual meeting of limited partners (the “ Annual Meeting”) that was held on June 12, 2025. No further awards will be granted under the prior Black Stone Minerals, L. P. Long-Term Incentive Plan (as amended from time to time, the “ Prior LTIP”), which expired on May 6, 2025, but which will continue to govern awards previously granted and still outstanding as of such expiration date.

The 2025 LTIP provides for the grant, from time to time, at the discretion of the Board of Directors (the “ Board”) of Black Stone Minerals GP, L. L. C., the Partnership’s general partner (the “ General Partner”), or a committee thereof, of unit options, unit appreciation rights, restricted units, phantom units, unit awards, DERs, cash awards, and other unit-based awards to non-employee directors of the General Partner, and certain employees and consultants of the General Partner and the Partnership’s affiliates.

The 2025 LTIP provides for the reservation of 6,700,000 of the Partnership’s common units. This number represents 3,188,093 common units available for awards under the Prior LTIP and an additional 3,511,907 common units newly reserved for the 2025 LTIP. If all or any portion of an award granted under the Prior LTIP that is outstanding as of May 6, 2025 (an “ Existing Award”) expires or is cancelled, forfeited, exchanged, settled for cash or otherwise terminated without the actual delivery of units, any units subject to such Existing Award will again be available for new awards under the 2025 LTIP. Any units withheld or surrendered in payment of any taxes relating to Existing Awards will also be available again for new awards under the 2025 LTIP.

The description of the 2025 LTIP in this Report does not purport to be a complete description of all provisions of the 2025 LTIP and is qualified in its entirety