Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 55

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 55
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In addition to cash compensation, our non-employeedirectors receive annual equity-based compensation under the Prior LTIP consisting of fully vested common units with an aggregate grant date value equal to approximately $200,000. Annual equity-based compensation is paid to our non-employeedirectors in a lump sum in arrears and is proportionately adjusted for partial years of service. Annual equity-based compensation awards are subject to the terms and conditions of the Prior LTIP and the award agreements pursuant to which such awards are granted. In the year in which a new non-employeedirector is elected to the Board of the General Partner for the first time, such director receives a one-timeinitial award under the Prior LTIP with a grant date value approximately equal to $100,000, subject to the terms and conditions of the Prior LTIP and the award agreement pursuant to which such award is granted. Mr. Ashley J. Longmaid began service as a director of the General Partner on March 25, 2024 and received such a grant. All retainers are paid in cash on a quarterly basis in arrears, subject to a non-employeedirector’s election to instead receive such retainers in the form of fully vested common units and are proportionately adjusted for partial years of service. Our non-employeedirectors do not receive any meeting fees, but each director is reimbursed for (i) travel and miscellaneous expenses to attend meetings and activities of the Board or its committees and (ii) travel and miscellaneous expenses related to participation in general education and orientation programs for directors. 45

Director Compensation Table The following table provides information concerning the compensation of our non-employeedirectors for the fiscal year ended December 31, 2024.

| Name                |     | Fees Earned or 
 Paid in Cash   
 ($)(1)         |   |         |     | Unit Awards 
 ($)(2)      |   |         |     | Total ($) |   |         |
|:--------------------|:----|:---------------|:--|--------:|:----|:------------|:--|--------:|:----|:----------|:--|--------:|
| Carin M. Barth      |     |                | $ | 125,000 |     |             | $ | 198,881 |     |           | $ | 323,881 |
| D. Mark DeWalch     |     |                | $ |  75,000 |     |             |