Company: BSM
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001193125-25-107202
Chunk: 36

Company: Black Stone Minerals, L.P.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 36
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) Mr. Kiefer’s departure was a qualifying termination under his existing severance agreement and award agreements, and (b) moreover, the payments recognized Mr. Kiefer’s integral role in the Partnership’s performance during his tenure as Senior Vice President, CFO, and Treasurer. For a description of the terms of the severance agreements and arrangements with each of the NEOs, please see the section below entitled “Potential Payments Upon Termination or a Change in Control.” 29

Other Benefits We currently maintain a 401(k) Plan, which permits all eligible employees, including the NEOs, to make voluntary pre-taxor after-tax(Roth) contributions to the plan. In addition, we are permitted to make discretionary matching contributions under the plan. In 2024, the Partnership’s matching contribution rate was 100% of the first 5% of eligible compensation deferred by an employee, up to the annual allowable U.S. Internal Revenue Code limits. Matching contributions are subject to a graded vesting schedule, with 33% vested after one year, 66% vested after two years, and 100% vested after the initial three years of employment with us. Following three years of employment, future Partnership matching contributions vest immediately. All contributions under the plan are subject to certain annual dollar limitations, which are periodically adjusted for changes in the cost of living. We also provide health and welfare benefits to our NEOs on the same terms as generally offered to our employees. In addition, we pay the costs associated with Mr. Carter’s club memberships. The aggregate cost of these memberships is less than $10,000 per year, and as a result, these amounts are not reflected in the “Summary Compensation Table” below. Say-on-Pay and Say-on-Frequency Last year, our limited partners overwhelmingly approved, on an advisory basis, the compensation programs for our NEOs. Advisory votes in favor of these programs were cast by nearly 98% of the votes cast by unitholders at the 2024 Annual Meeting. At our annual meeting held in 2024, our unitholders voted in favor of holding advisory “Say-on-Pay” votes on an annual basis, which was the frequency recommended by the Board of the General Partner. Consistent with this say-on-frequencyvote, we hold “Say-on-Pay” votes on an annual basis, as we believe that annual “Say-on-Pay”votes provide the Partnership with more direct and immediate feedback on our compensation disclosures and enables the Board and the Compensation Committee to determine