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

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

Summary

• Murray Stahl, a director of Texas Pacific Land Corp, reported several purchases of common stock on March 7, 2025.
• The purchases were made through various entities including Horizon Kinetics Hard Assets, Horizon Credit Opportunity Fund LP, Horizon Common Inc, and Polestar Offshore Fund Ltd.
• The price per share for these purchases was approximately $1,317.2, with one transaction at $1,347.97.
• Stahl's beneficial ownership following these transactions includes direct and indirect holdings through various entities.
• These transactions were executed under a Rule 10b5-1 plan adopted on November 21, 2024.
• Stahl disclaims beneficial ownership over shares managed by HKAM, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports stock purchases by a director. It doesn't inherently indicate positive or negative sentiment about the company's performance.

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

This filing reflects insider transactions, which are closely monitored by investors for insights into management's perspective on the company's value and future prospects. Texas Pacific Land Corp is a unique company that owns a significant amount of land in Texas, benefiting from oil and gas royalties and land sales.

Stakeholder Impact

• Shareholders may view the director's stock purchases as a positive signal, indicating confidence in the company's future performance.

Key Dates