Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 79

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 79
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 was approved by the General Partnership prior to our initial public offering but as of December 31, 2024 has not been approved by our public unitholders. Please read Note 9 to our consolidated financial statements for the fiscal year ended December 31, 2024, for a description of our equity compensation plans as of such date. In addition, a detailed description of the terms of the Prior LTIP, as in effect on December 31, 2024, is available in our registration statement on Form S-1,last filed on April 22, 2015, under the heading “Executive Compensation and Other Information-Long-Term Incentive Plan. Vote Required Pursuant to the Partnership Agreement, the proposal to approve the adoption of the 2025 LTIP requires approval by a majority of the votes cast by the unitholders entitled to vote at the virtual Annual Meeting. Abstentions and broker non-voteswill be counted for purposes of establishing quorum but otherwise will have no effect on this proposal. THE BOARD UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE APPROVAL OF THE ADOPTION OF THE BLACK STONE MINERALS, L.P. 2025 LONG-TERM INCENTIVE PLAN. 65

<div align='center'>**AUDIT COMMITTEE REPORT**</div>

The information contained in this Audit Committee Report and references in this Proxy Statement to the independence of the Audit Committee members shall not be deemed to be “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), except to the extent that Black Stone Minerals, L.P. (the “Partnership”) specifically incorporates such information by reference in such filing.

The Board of Directors of the Partnership’s general partner (the “Board”) has determined that all current Audit Committee members are (i) independent, as defined in Rule 10A-3 promulgated under the Exchange Act, (ii) independent under the standards set forth by the New York Stock Exchange, and (iii) financially literate. In addition, Ms. Carin M. Barth qualifies as an audit committee financial expert under the applicable rules promulgated pursuant to the Exchange Act.

The Audit Committee has reviewed and discussed with the Partnership’s management the audited consolidated financial statements in the Partnership’s