Black Stone Minerals, L.P. — Director's Dealing 2016

Apr 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Black Stone Minerals, L.P. (BSM)
CIK: 0001621434
Period of Report: 2016-04-08

Reporting Person: Mathis William N. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-08	Common units representing limited partner interests	A	1516	$14.01	Acquired	43054	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-08	Preferred units representing limited partner interests	$	X	8000	Disposed		Common and subordinated units representing LP interests ()	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common units representing limited partner interests	77459	Indirect
Common units representing limited partner interests	242714	Indirect
Common units representing limited partner interests	604328	Indirect
Common units representing limited partner interests	189117	Indirect
Common units representing limited partner interests	101755	Indirect

Footnotes

F1: Pursuant to a previous arrangement, the Reporting Person elected to receive common units in lieu of a cash retainer for service on the Board of Directors of the Partnership's General Partner.

F2: 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, 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 unless redeemed, as described in the Issuer's Registration Statement on Form S-1 (File No. 333-202875).

F3: Conti Street Minerals, L.P. required the Partnership to redeem a portion of its preferred units in accordance with the terms of the Partnership's Limited Partnership Agreement. The redemption price of $1,026.78 per preferred unit represents the $1,000 par value of each preferred unit plus $26.78 in interest equal to the unpaid accrued yield.