BLACK HILLS CORP /SD/ — Director's Dealing 2019

Mar 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACK HILLS CORP /SD/ (BKH)
CIK: 0001130464
Period of Report: 2019-02-28

Reporting Person: Roberts Rebecca B (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-01	Common Stock	I	11.0470	$71.0567	Acquired	4659.3844	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-28	Phantom Stock Unit	$	A	355.1471	Acquired		Common Stock (355.1471)	Indirect
2019-03-01	Phantom Stock Unit	$	A	97.6248	Acquired		Common Stock (97.6248)	Indirect

Footnotes

F1: 1 for 1 conversion ratio

F2: Derivative security is exercisable upon retirement under terms of the agreement.

F3: Derivative security expires upon retirement under terms of the agreement.