Michael Madison - May 28, 2021 Form 4 Insider Report for BLACK HILLS CORP /SD/ (BKH)

Role
Director
Signature
/s/Lorna J. Gunderman
Stock symbol
BKH
Transactions as of
May 28, 2021
Transactions value $
$32,691
Form type
4
Date filed
6/1/2021, 05:20 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BKH Common Stock Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities $6.29K +95.5 +0.6% $65.90 16.1K Jun 1, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BKH Phantom Stock Unit Award $17.5K +266 +1.72% $65.79 15.8K May 28, 2021 Common Stock 266 By Trust F1, F2, F3
transaction BKH Phantom Stock Unit Award $8.9K +135 +0.86% $65.90 15.9K Jun 1, 2021 Common Stock 135 By Trust F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael Madison is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
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.