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

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

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported purchases of common stock on February 27, 2025.
• 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 $1,370.13, with one transaction at $1,367.31.
• These transactions were executed under a Rule 10b5-1 plan adopted on November 21, 2024.
• Stahl's beneficial ownership includes direct and indirect holdings through several entities managed by Horizon Kinetics Asset Management LLC (HKAM).
• HKAM filed an amendment to its Schedule 13D on December 18, 2024, noting beneficial ownership of 3,578,173 shares.
• Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine disclosure of stock purchases. The purchases themselves could be seen as slightly positive, but the document is primarily informational.

Positives

• Director's stock purchases may signal confidence in the company's future prospects.
• The use of a pre-arranged Rule 10b5-1 plan suggests a structured and transparent approach to trading.

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

Directors' stock purchases are often viewed as a positive sign, indicating confidence in the company's performance and future prospects. Monitoring such transactions can provide insights into management's sentiment and potential future performance.

Stakeholder Impact

• The reported stock purchases could positively influence shareholder sentiment.
• The transactions have no immediate impact on employees, customers, suppliers, or creditors.

Key Dates