Linden R. Evans - 12 Feb 2026 Form 4 Insider Report for BLACK HILLS CORP /SD/ (BKH)

Role: President and CEO
Signature: /s/Travis Frederickson
Issuer symbol: BKH
Transactions as of: 12 Feb 2026
Net transactions value: +$401,215
Form type: 4
Filing time: 13 Feb 2026, 14:30:15 UTC
Previous filing: 10 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Evans Linden R	President and CEO	PO BOX 1400, RAPID CITY	/s/Travis Frederickson	12 Feb 2026	0001305656

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BKH	Common Stock	Award	$661,526	+9,036	+5.3%	$73.21	178,640	12 Feb 2026	Direct	F1
transaction	BKH	Common Stock	Tax liability	$260,310	-3,556	-2%	$73.21	175,084	12 Feb 2026	Direct	F2, F3
holding	BKH	Common Stock						4,491	12 Feb 2026	By 401K

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares acquired through the 2023-2025 Performance Share Plan under the Company's Omnibus Incentive Plan.
F2	Shares used to pay tax withholding associated with 2023-2025 Performance Shares Plan payout from 2-12-2026.
F3	Due to a temporary software issue, the post-transaction share balance is understated by 1,000 shares. The reporting person actually owns 176,083.986 shares.