Form 4: Texas Pacific Land Corp: Director Murray Stahl Reports Share Purchases

Director Murray Stahl reports purchases of Texas Pacific Land Corp shares through various entities, including Horizon Kinetics Asset Management LLC, under a pre-arranged Rule 10b5-1 plan.

Summary

• On March 5, 2025, Murray Stahl, a director of Texas Pacific Land Corp, reported the purchase of common stock through several entities.
• These purchases were made under a Rule 10b5-1 plan adopted on November 21, 2024.
• The transactions involved 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 was approximately $1,342.31, with one transaction at $1,342.09.
• Following these transactions, the total number of shares beneficially owned by these entities and Mr. Stahl is substantial, including direct and indirect holdings.
• Mr. Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of share purchases by a director under a pre-arranged plan. It doesn't necessarily indicate a strong positive or negative outlook.

Positives

• The purchases indicate confidence in Texas Pacific Land Corp by a director.
• The use of a pre-arranged Rule 10b5-1 plan suggests a structured and transparent approach to trading.

Management Comments

• 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 standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The reported share purchases may have a slightly positive impact on shareholder sentiment.

Key Dates