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

Jun 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACK HILLS CORP /SD/ (BKH)
CIK: 0001130464
Period of Report: 2020-05-29

Reporting Person: Otto Robert P (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-01	Common Stock	I	64.6350	$61.2414	Acquired	2361.8754	Direct
2020-06-01	Common Stock	I	20.0690	$61.2414	Acquired	2381.9444	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-29	Phantom Stock Unit	$	A	425.3768	Acquired		Common Stock (425.3768)	Indirect
2020-06-01	Phantom Stock Unit	$	A	45.9607	Acquired		Common Stock (45.9607)	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.