John B. Vering - 30 Nov 2021 Form 4 Insider Report for BLACK HILLS CORP /SD/ (BKH)

Role: Director
Signature: /s/Lorna J. Gunderman
Issuer symbol: BKH
Transactions as of: 30 Nov 2021
Net transactions value: +$46,635
Form type: 4
Filing time: 02 Dec 2021, 14:05:19 UTC
Previous filing: 02 Sep 2021
Next filing: 05 Jan 2022
SEC: View on sec.gov

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	$646	+10	+0.09%	$65.01	11,096	01 Dec 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	$26,250	+409	+1.2%	$64.12	33,176	30 Nov 2021	Common Stock	409		By Trust	F1, F2, F3
transaction	BKH	Phantom Stock Unit	Award	$19,739	+304	+0.92%	$65.01	33,479	01 Dec 2021	Common Stock	304		By Trust	F1, F2, F3

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

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.