Form 4: Murray Stahl of Horizon Kinetics Acquires Additional Shares of Texas Pacific Land Corp

Murray Stahl, a director and 10% owner of Texas Pacific Land Corp, reports purchasing additional shares through various entities managed by Horizon Kinetics, as well as directly.

Summary

• On September 9, 2024, Murray Stahl, a director and 10% owner of Texas Pacific Land Corp, reported the purchase of additional shares.
• The purchases were made through various entities including Horizon Kinetics Hard Assets LLC, Horizon Credit Opportunity Fund LP, Horizon Common Inc, and Polestar Offshore Fund Ltd.
• The price per share for these purchases ranged from $792.16 to $800.06.
• The total number of shares beneficially owned following the reported transactions is 315,600 directly and indirectly through Horizon Kinetics Hard Assets LLC, Horizon Credit Opportunity Fund LP, Horizon Common Inc, Polestar Offshore Fund Ltd, Horizon Kinetics Asset Management LLC, Horizon Kinetics Hard Assets II LLC, CDK Partners LP, CDK Fund Ltd, and Spouse.
• These purchases were made pursuant to a Rule 10b5-1 plan adopted on May 14, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating insider buying, which can be seen as a positive signal, but it's part of a pre-arranged plan.

Positives

• The director's purchase of shares could be seen as a positive signal to the market.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Stakeholder Impact

• Shareholders may view the insider buying as a positive sign of confidence in the company's future prospects.

Key Dates