Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 27

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 27
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 or potential conflict of interest that may arise between the director or officer or any affiliate of the director or officer, including a member of such person’s immediate family, on the one hand, and us or the General Partner on the other. The resolution of any conflict or potential conflict should, at the discretion of the Board and in light of the circumstances, taking in account the requirements of the NYSE with respect to related party transactions, be determined by a majority of the disinterested directors.

Certain Relationships and Related Party Transactions

We employ Fowler T. Carter, the son of Mr. Carter, Chairman, Chief Executive Officer and President of the General Partner, as Senior Vice President, Corporate Development, and he received total compensation from us of $483,369 during the year ended December 31, 2024. We also employ Stephen Fox, the son-in-law of Mr. Carter, as Land Manager, Gulf Coast, and he received total compensation from us of $339,682 during the year ended December 31, 2024.**

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Insider Trading Policy We have an insider trading policy,which prohibits directors, officers, employees, and consultants from engaging in hedging or monetization transactions, whether direct or indirect, involving our securities, regardless of whether such persons are in possession of material, nonpublic information. Transactions involving Partnership-based derivative securities, including options, warrants, unit appreciation rights, convertible notes, or similar rights whose value is derived from the value of an equity security, are also prohibited. This policy does not restrict holding, exercising, or settling awards such as options, restricted units, or other derivative securities granted under a Partnership equity incentive plan. It is also the policy of the Partnership to comply with all applicable securities laws when transacting in its own securities. A copy of the Partnership’s insider trading policy was filed as Exhibit 19.1 to its Annual Report on Form 10-Kfor the year ended December 31, 2024. 20

#### EXECUTIVE COMPENSATION AND OTHER INFORMATIONCOMPENSATION DISCUSSION AND ANALYSISThis Compensation Discussion and Analysis (“CD&A”) describes the rationale and policies for the compensation of our named executive officers (“Named Executive Officers” or “NEOs”) for our fiscal year ending December 31, 2024 (the “2024 Fiscal Year”). Our Named Executive Officers for the 2024 Fiscal Year were:NameTitleThomas L. Carter, Jr.Chairman, Chief Executive Officer, and PresidentH. Taylor