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

Director Murray Stahl reported purchases of Texas Pacific Land Corp stock on March 28, 2024, through various entities.

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported purchases of common stock on March 28, 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 all transactions was $578.51.
• The total number of shares purchased across all entities was 9 shares.
• Stahl also has indirect beneficial ownership through Horizon Kinetics Asset Management LLC (HKAM) of 591,840 shares, but does not participate in investment decisions with respect to the securities of the Issuer.
• These purchases were made pursuant to a Rule 10b5-1 plan adopted on September 14, 2023.

Sentiment

Score: 6

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

Positives

• The director's stock purchases could be interpreted as a positive signal about the company's prospects.

Management Comments

• Mr. Stahl does not exercise investment discretion with respect to the securities of the issuer.
• These accounts are managed by HKAM, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Manager but does not participate in investment decisions with respect to the securities of the Issuer.

Industry Context

Form 4 filings are routine disclosures required by the SEC when insiders (directors, officers, or those holding 10% or more of a company's shares) buy or sell stock in their own companies.

Stakeholder Impact

• The stock purchases by a director may influence investor sentiment.

Key Dates