Form 4: Texas Pacific Land Corp CFO Chris Steddum Sells Shares Under 10b5-1 Trading Plan

Chris Steddum, CFO of Texas Pacific Land Corp, sold shares of common stock on March 14, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 14, 2025, Chris Steddum, the Chief Financial Officer of Texas Pacific Land Corporation, executed multiple sales of common stock.
• These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024.
• The sales involved varying quantities of shares at prices ranging from $1,260.73 to $1,309.75.
• Specifically, the CFO sold a total of 423 shares of common stock.
• Following these transactions, Mr. Steddum still directly owns 3,716 shares of Texas Pacific Land Corp.
• Mr. Steddum also owns 423 Restricted Stock Units (RSUs) that will vest on February 10, 2026, 1,382 RSUs that will vest on February 13 of each of 2026 and 2027, and 795 RSUs that will vest on February 15 of each of 2026, 2027 and 2028.

Sentiment

Score: 5

Explanation: The document is a standard Form 4 filing, indicating insider selling under a pre-arranged plan. It's neutral in sentiment as it simply reports transactions.

Industry Context

Insider trading activity is always closely watched by investors as it can provide signals, though often noisy, about management's view of the company's prospects. Sales under 10b5-1 plans are generally less informative since they are pre-arranged.

Stakeholder Impact

• The stock sale by the CFO could be perceived negatively by some shareholders, although it is part of a pre-arranged trading plan.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely minimal.

Key Dates