Form 4: LandBridge Co LLC Director David N. Capobianco Reports Share Transaction

Director David N. Capobianco of LandBridge Co LLC reports the transfer of 2,498,751 Class B shares and OpCo Units in exchange for $60.03 per unit.

Summary

• David N. Capobianco, a director of LandBridge Co LLC, reported a transaction involving the transfer of 2,498,751 OpCo Units to the Issuer.
• In exchange for these units, Mr. Capobianco forfeited a corresponding number of Class B shares, which were then cancelled by the Issuer.
• The transaction was part of an OpCo Unit Purchase, where each unit was valued at $60.03.
• This price matches the per-share price received by the Issuer in a private placement of Class A shares on the same day.
• The OpCo Unit Purchase was approved by a majority of the Issuer's shareholders and board of directors.
• LandBridge Holdings, which is controlled by Mr. Capobianco, is involved in the transaction.
• Mr. Capobianco disclaims beneficial ownership of OpCo Units and Class B Shares beyond his pecuniary interest.

Sentiment

Score: 7

Explanation: The transaction appears to be a routine part of the company's capital structure management and is approved by the board and shareholders. There are no obvious negative implications.

Positives

• The transaction was approved by a majority of the Issuer's shareholders and board of directors, indicating strong corporate governance.
• The price per unit in the transaction matches the price per share in a private placement, suggesting fair valuation.

Risks

• The document does not explicitly state any risks, but the transaction involves a related party, which could raise concerns about potential conflicts of interest.

Industry Context

This transaction is a specific instance of a director's share activity and does not provide broad industry context. It is related to the company's capital structure and private placement activities.

Comparison to Industry Standards

• The transaction is a specific instance of a director's share activity and does not provide broad industry context.
• The price of $60.03 per unit is consistent with the private placement price, which is a common practice in private placements.
• The approval by a majority of shareholders and the board is a standard corporate governance practice.

Related Party Transactions

• The transaction involves LandBridge Holdings, which is controlled by the reporting person, David N. Capobianco.

Stakeholder Impact

• The transaction has a direct impact on the company's capital structure and the ownership of Class B shares.
• Shareholders may be interested in the details of the transaction and the valuation of the OpCo Units.

Key Dates

Keywords

LandBridge Co LLC, OpCo Units, Class B Shares, Class A Shares, David N. Capobianco, Director, Share Transaction, Private Placement, LandBridge Holdings, Related Party Transaction