Company: BSM
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022559
Chunk: 33

Company: Black Stone Minerals, L.P.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 33
---
,560  $8,582 $56,560 NUMERATOR:Numerator for basic EPU - Net income (loss) attributable to common unitholders$8,582 $56,560 Effect of dilutive securities— — Numerator for diluted EPU - Net income (loss) attributable to common unitholders after the effect of dilutive securities$8,582 $56,560 DENOMINATOR:Denominator for basic EPU - weighted average common units outstanding (basic)211,253 210,654 Effect of dilutive securities— — Denominator for diluted EPU - weighted average number of common units outstanding after the effect of dilutive securities211,253 210,654 NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT:  Per common unit (basic)$0.04 $0.27 Per common unit (diluted)$0.04 $0.27 The following units of potentially dilutive securities were excluded from the computation of diluted weighted average units outstanding because their inclusion would be anti-dilutive: Three Months Ended March 31,20252024(in thousands)Potentially dilutive securities (common units):Series B cumulative convertible preferred units on an as-converted basis15,072 15,072 

15

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 11 - COMMON UNITS

Common UnitsThe common units represent limited partner interests in the Partnership. The holders of common units are entitled to participate in distributions and exercise the rights and privileges provided to limited partners holding common units under the partnership agreement. The partnership agreement restricts unitholders’ voting rights by providing that any units held by a person or group that owns 15% or more of any class of units then outstanding, other than the limited partners in Black Stone Minerals Company, L.P. prior to the IPO, their transferees, persons who acquired such units with the prior approval of the board of directors of the Partnership's general partner (the "Board"), holders of Series B cumulative convertible preferred units in connection with any vote, consent or approval of the Series B cumulative convertible preferred units as a separate class, and persons who own 15% or more of any class as a result of any redemption or purchase of any other person's units