Form 4: Murray Stahl, Director at Texas Pacific Land Corp, Reports Changes in Beneficial Ownership

Director Murray Stahl reports transactions in Texas Pacific Land Corp stock, including purchases made under a Rule 10b5-1 plan and a reduction due to a client in-kind redemption.

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, filed a Form 4 detailing changes in beneficial ownership of the company's common stock.
• The reported transactions include purchases of common stock at a price of $1,314.56 on April 1, 2025.
• These purchases were made under a Rule 10b5-1 plan adopted on November 21, 2024.
• The filing also indicates a reduction of 1,886 shares due to a client in-kind redemption.
• Stahl's beneficial ownership is both direct and indirect through entities like Horizon Kinetics Asset Management LLC (HKAM).
• HKAM filed an amendment to its Schedule 13D on December 18, 2024, noting beneficial ownership of 3,578,173 shares.
• Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reports transactions without indicating a strong positive or negative outlook. The purchases are part of a pre-arranged plan.

Negatives

• The filing indicates a reduction of 1,886 shares due to a client in-kind redemption, which could be interpreted as a slight negative signal.

Management Comments

• Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.
• Mr. Stahl disclaims beneficial ownership over the shares reported except to the extent of his pecuniary interest, if any.

Industry Context

Form 4 filings are a routine part of insider trading activity and provide transparency into the actions of company directors and officers.

Stakeholder Impact

• The reported transactions provide shareholders with insights into the actions of a key company director.

Key Dates

Keywords

beneficial ownership, Form 4, Texas Pacific Land Corp, Murray Stahl, Horizon Kinetics, TPL, Rule 10b5-1, stock purchase, director