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

Mar 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACK HILLS CORP /SD/ (BKH)
CIK: 0001130464
Period of Report: 2020-02-28

Reporting Person: MILLS STEVEN RICHARD (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-28	Phantom Stock Unit	$	A	369.6157	Acquired		Common Stock (369.6157)	Indirect
2020-03-02	Phantom Stock Unit	$	A	104.9019	Acquired		Common Stock (104.9019)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13127.3182	Direct

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.