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 those managed by Horizon Kinetics Asset Management LLC.

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported purchases of common stock on September 19, 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 prices paid for the stock ranged from $900.04 to $911.37 per share.
• The reported transactions were made pursuant to a Rule 10b5-1 plan adopted on May 14, 2024.
• Stahl's beneficial ownership includes direct and indirect holdings through various entities.
• Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13d on February 28, 2024, noting beneficial ownership of 1,271,975 shares and Murray Stahl's direct interest in 2,474 shares and his indirect interest in approximately 53,550 shares.
• The Issuer effectuated a split of its common stock 3-for-1 on March 27, 2024, so the figures reported in Schedule 13d should be deemed to have been multiplied by 3 as of such date.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock purchases by a director, which can be seen as a mildly positive signal, but it's not a major event.

Positives

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

Industry Context

Directors' dealings are closely watched by investors as they can provide insights into the company's prospects. Purchases are generally seen as a positive sign.

Stakeholder Impact

• The stock purchases by a director could positively influence shareholder sentiment.

Key Dates