Form 4: Texas Pacific Land Corp: CFO Chris Steddum Reports Stock Transactions
SEC Form 4 Filing
Chief Financial Officer Chris Steddum reports the vesting and disposal of restricted stock units to cover tax obligations.
Summary
- Chris Steddum, CFO of Texas Pacific Land Corporation, filed a Form 4 detailing changes in beneficial ownership.
- On February 13, 2025, 690 restricted stock units (RSUs) vested and converted into common stock.
- Also on February 13, 2025, 312 shares of common stock were disposed of to cover tax withholding obligations at a price of $1,353.18 per share.
- Following these transactions, Steddum directly owns 4,252 shares of common stock.
- Additionally, 795 RSUs were acquired on February 15, 2025, which vest in equal installments on February 15 of 2026, 2027, and 2028.
- 423 RSUs vest on February 10, 2026.
- After the reported transactions, Steddum holds 1,382 RSUs that vest on February 13 of 2026 and 2027, 795 RSUs that vest on February 15 of 2026, 2027, and 2028, and 423 RSUs that vest on February 10, 2026.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related stock disposals.
Key Dates
| Date | Description |
|---|---|
| 02/13/2025 | 690 Restricted Stock Units vested and converted into common stock; 312 shares disposed of for tax obligations. |
| 02/15/2025 | 795 Restricted Stock Units acquired, vesting in installments over three years. |
| 02/10/2026 | 423 Restricted Stock Units vest. |
| 02/13/2026 | 691 Restricted Stock Units vest. |
| 02/15/2026 | 265 Restricted Stock Units vest. |
| 02/13/2027 | 691 Restricted Stock Units vest. |
| 02/15/2027 | 265 Restricted Stock Units vest. |
| 02/15/2028 | 265 Restricted Stock Units vest. |
| 02/18/2025 | Date of Form 4 signature. |
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