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

Murray Stahl, a director at Texas Pacific Land Corp, reported purchasing shares of the company's common stock through various entities, including Horizon Kinetics Asset Management LLC, under a Rule 10b5-1 plan.

Summary

• On February 26, 2025, Murray Stahl, a director of Texas Pacific Land Corp, reported several transactions involving the company's common stock.
• These transactions were executed under a Rule 10b5-1 plan adopted on November 21, 2024.
• 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 was approximately $1,301.17, with one transaction at $1,349.59.
• Stahl's beneficial ownership includes direct and indirect holdings through various entities.
• As of December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) reported beneficial ownership of 3,578,173 shares, with Murray Stahl's direct interest at 7,848 shares and indirect interest in approximately 156,083 shares.
• 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. The document primarily reports stock transactions by a director, which can be seen as a positive sign, but the transactions were pre-planned under a Rule 10b5-1 plan. There are no explicit positive or negative statements about the company's performance or future outlook.

Positives

• The director's stock purchases could be interpreted as a positive signal, indicating confidence in the company's future prospects.

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 stock purchases may influence investor sentiment regarding Texas Pacific Land Corp.

Key Dates