Black Stone Minerals, L.P. — Director's Dealing 2015

Dec 16, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Black Stone Minerals, L.P. (BSM)
CIK: 0001621434
Period of Report: 2015-12-11

Reporting Person: Carroll Marc (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-11	Preferred units representing limited partner interests	$	D	113	Disposed		Common and subordinated units representing LP interests ()	Direct

Footnotes

F1: Each preferred unit may be converted at any time at the option of the holder thereof into common units at the then-effective conversion rate. In addition, on January 1 of each year from 2016 to 2018 a number of preferred units will automatically convert into common units and subordinated units at the then-effective conversion rate, as described in the Issuer's Registration Statement on Form S-1, as amended (File No. 333-202875).

F2: Disposed of pursuant to the Issuer's offer to purchase up to 100% of the 117,963 outstanding Series A Preferred Units from its preferred unitholders at the units' par value of $1,000.00 per preferred unit, plus unpaid accrued yield.

F3: Each preferred unit may be converted at any time at the option of the holder thereof into common units at the then-effective conversion rate. In addition, on January 1 of each year from 2016 to 2018 a number of preferred units will automatically convert into common units and subordinated units at the then-effective conversion rate, as described in the Issuer's Registration Statement on Form S-1 (File No. 333-202875).