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

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

Summary

• On May 9, 2025, Murray Stahl, a director of Texas Pacific Land Corp, reported purchasing shares of the company's common stock.
• The purchases were made under a Rule 10b5-1 plan adopted on November 21, 2024.
• The transactions involved multiple 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 $1,298.44, with one transaction at $1,280.75.
• Stahl's beneficial ownership includes direct and indirect holdings through various entities managed by Horizon Kinetics Asset Management LLC (HKAM).
• HKAM's Schedule 13D amendment on December 18, 2024, noted beneficial ownership of 3,578,173 shares, with Stahl's direct interest at 7,848 shares and indirect interest in approximately 156,083 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 the document primarily reports stock purchases by a director under a pre-existing plan, which is a routine disclosure.

Positives

• Director's purchase of shares may signal confidence in the company's future prospects.
• The use of a Rule 10b5-1 plan suggests a structured and pre-planned approach to trading, reducing concerns about insider trading.

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 standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The stock purchase by a director could have a slightly positive impact on shareholder sentiment.

Key Dates

Keywords

Texas Pacific Land Corp, Murray Stahl, Horizon Kinetics, beneficial ownership, Form 4, Rule 10b5-1, stock purchase, director