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, as well as a transfer of shares between accounts.

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported several transactions involving the company's common stock on March 6, 2025.
• These transactions include purchases made through various entities associated with Horizon Kinetics, 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 $1,340.36, with one purchase at $1,328.51.
• Stahl also reported a transfer of 9,947 shares from one pecuniary account to another without consideration.
• Stahl disclaims beneficial ownership over shares managed by Horizon Kinetics Asset Management LLC, 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: 6

Explanation: Neutral sentiment. The document primarily reports stock purchases, which could be seen as a positive signal, but the director disclaims beneficial ownership over a significant portion of the shares.

Positives

• Director's purchases may signal 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 routine disclosures required by the SEC to provide transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Stakeholder Impact

• The reported stock purchases could positively influence shareholder sentiment.

Key Dates