BLACK HILLS CORP /SD/ — Director's Dealing 2020

Sep 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACK HILLS CORP /SD/ (BKH)
CIK: 0001130464
Period of Report: 2020-08-31

Reporting Person: McAllister Kathleen S (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-09-01	Common Stock	I	71.5390	$55.3311	Acquired	627.7080	Direct
2020-09-01	Common Stock	I	5.3776	$55.3311	Acquired	633.0856	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-08-31	Phantom Stock Unit	$	A	468.0813	Acquired		Common Stock (468.0813)	Indirect
2020-09-01	Phantom Stock Unit	$	A	13.3772	Acquired		Common Stock (13.3772)	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.