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

Director Murray Stahl, through various entities, reports the acquisition of Texas Pacific Land Corp shares on May 5, 2025, while disclaiming beneficial ownership beyond his pecuniary interest.

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported changes in beneficial ownership on May 5, 2025.
• The transactions involved the purchase of common stock at a price of $1,318.34 per share.
• These purchases were made through various entities including Horizon Kinetics Hard Assets, HORIZON CREDIT OPPORTUNITY FUND LP, HORIZON COMMON INC, and POLESTAR OFFSHORE FUND LTD.
• Stahl's reported beneficial ownership following these transactions includes direct and indirect holdings.
• Horizon Kinetics Asset Management LLC (HKAM) reported beneficial ownership of 3,578,173 shares in a previous filing.
• Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.
• The purchases were made pursuant to a Rule 10b5-1 plan adopted on November 21, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The director's purchase of shares could be interpreted as a positive signal about the company's prospects.

Risks

• Stahl's disclaimer of beneficial ownership, except for his pecuniary interest, could indicate a complex ownership structure.

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

Stakeholder Impact

• The reported transactions provide shareholders with information about insider activity, which can influence investor sentiment.

Key Dates

Keywords

Texas Pacific Land Corp, Murray Stahl, Horizon Kinetics, Beneficial Ownership, Form 4, Share Purchase, Director