Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 45

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 45
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 |     |           |
| 2023 LTI Restricted Units  |     |                 |     |  26,217 | -4 |     |                   |     |   382,768 |     |                  |     |         |    |     |                  |     |           |
| 2024 LTI Restricted Units  |     |                 |     |  39,759 | -5 |     |                   |     |   580,481 |     |                  |     |         |    |     |                  |     |           |
| Dawn K. Smajstrla          |     |                 |     |         |    |     |                   |     |           |     |                  |     |         |    |     |                  |     |           |
|                            |     |                 |     |       — |    |     |                   |     |         — |     |                  |     |       — |    |     |                  |     |         — |
| Evan M. Kiefer             |     |                 |     |         |    |     |                   |     |           |     |                  |     |         |    |     |                  |     |           |
| 2022 Aspirational Awards   |     |                 |     |         |    |     |                   |     |           |     |                  |     |  50,893 | -8 |     |                  |     |   743,038 |

| (1) | The equity awards disclosed in this Outstanding Equity Awards at 2024 Fiscal Year-End table are denominated in common units. |

| (2) | Reflects the market value of our common units underlying each NEO’s equity awards, computed based on the closing price of our common units on December 31, 2024, which was $14.60 per common unit. |

| (3) | Each NEO’s outstanding 2022 LTI Restricted Units vested on January 7, 2025. |

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| (4) | One half of each NEO’s outstanding 2023 LTI Restricted Units vested on January 7, 2025, and the remainder of each NEO’s outstanding 2025 LTI Restricted Units will vest on January 7, 2026, so long as the NEO remains employed by the General Partner or one of its affiliates on such dates or incurs a qualifying termination pursuant to the award agreement. |

| (5) | One third of each NEO