BLACK HILLS CORP /SD/ — Director's Dealing 2021

Sep 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BLACK HILLS CORP /SD/ (BKH)
CIK: 0001130464
Period of Report: 2021-08-31

Reporting Person: Jensen Tony A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-01	Common Stock	I	5.6430	$71.2556	Acquired	6478.2878	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-31	Phantom Stock Unit	$	A	373.2404	Acquired		Common Stock (373.2404)	Indirect
2021-09-01	Phantom Stock Unit	$	A	24.6263	Acquired		Common Stock (24.6263)	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.