Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 35

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 35
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 99.70% |     |             |     |  34,923 |
| Dawn K. Smajstrla     |     |             |     |     N/A |     |           |     | N/A    |     |             |     |     N/A |
| Evan M. Kiefer        |     |             |     |     N/A |     |           |     | N/A    |     |             |     |     N/A |

| (1) | The amounts reported in this column do not include the number of additional common units earned by each NEO with respect to the distribution-equivalent rights (“DERs”) granted in tandem with the 2022 LTI Performance Units and paid in 2025. For further information regarding the vesting of such DERs, please see the “Option Exercises and Units Vested in the 2024 Fiscal Year” table, which includes accrued distribution-equivalent rights paid in 2024 with respect to certain of the NEOs’ LTI Performance Units. |

28

Policies and Practices Related to the Timing of Grants of Certain Equity-Based Awards We do not currently grant stock options or stock appreciation rights (“SARs”) as part of our equity compensation programs, and therefore we do not maintain a formal policy regarding the timing of stock option or SAR awards. During 2024, while the Board did not grant any stock options or SARs, it did not timethe disclosure of material nonpublic information to affect the value of other types of executive compensation awards granted to any service provider. Post-Employment and Change in Control Benefits Each of the NEOs serving as of December 31, 2024 is party to a severance agreement that provides for severance payments and benefits upon certain terminations of employment, including enhanced benefits upon certain terminations of employment following a change in control. These severance agreements are intended to provide protections to the NEOs in the event of certain involuntary terminations, and they assist in recruiting and retaining high performing talent. Additionally, these agreements provide us with an opportunity to obtain non-competesand other restrictive covenants, providing protection to the Partnership in the event of the termination of an NEO’s employment. In connection with Mr. Kiefer’s departure on May 28, 2024, the Partnership entered into a Separation Agreement with Mr. Kiefer that provided for payments consistent with his existing severance agreement and award agreements. The Compensation Committee and Board determined that these amounts were appropriate because (a