SEC Form 4 · accession 0001209191-16-145623
Black Stone Minerals, L.P. · BSM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William G Bardel
Director
Period of report
Oct 7, 2016
Accepted (ET)
Oct 11, 2016 · 5:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001621434
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common units representing limited partner interestsF1,F2 | Oct 7, 2016 | A | 1,263 | $17.81 | A | 174,049 | D | |
| Common units representing limited partner interests | holding | — | — | — | 19,415 | I | By wife | |
| Common units representing limited partner interestsF2 | holding | — | — | — | 0 | I | By Bardel 2014 GRAT Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subordinated units representing limited partner interestsF2,F3 | — | holding | — | — | — | — | — | Common units representing limited partner interests | 190,049 | 190,049 | D |
| Subordinated units representing limited partner interestsF3 | — | holding | — | — | — | — | — | Common units representing limited partner interests | 25,431 | 25,431 | I |
| Subordinated units representing limited partner interestsF2,F3 | — | holding | — | — | — | — | — | Common units representing limited partner interests | 0 | 0 | I |
Explanation of responses
- F1Pursuant to a previous arrangement, the Reporting Person elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.
- F2On August 17, 2016 and effective as of March 29, 2016, a grantor retained-annuity trust ("GRAT"), of which the Reporting Person was the sole annuitant and of which the Reporting Person's wife was the trustee, paid the required annual annuity of 31,866 common units and 41,738 subordinated units to the Reporting Person. Consequently, the holdings column reflects the decrease in the GRAT's holdings, for which the Reporting Person reported indirect beneficial ownership, and an increase in the Reporting Person's direct holdings.
- F3Each subordinated unit will convert into one common unit representing a limited partner interest in the Issuer at the end of the subordination period described in the Issuer's Registration Statement on Form S-1 (File No. 333-202875).