Form 4: Texas Pacific Land Corp: Director Murray Stahl Reports Stock Purchases Under 10b5-1 Plan

Murray Stahl, a director at Texas Pacific Land Corp, reported several purchases of common stock through various entities under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 12, 2025, Murray Stahl, a director of Texas Pacific Land Corp, reported the purchase of common stock through several entities.
• These purchases were made under a Rule 10b5-1 trading plan adopted on November 21, 2024.
• The purchases were executed at a price of $1,368.47 per share, with some shares purchased at $1,327.36.
• The transactions involved entities such as Horizon Kinetics Hard Assets, HORIZON CREDIT OPPORTUNITY FUND LP, HORIZON COMMON INC, and POLESTAR OFFSHORE FUND LTD.
• Stahl's beneficial ownership includes direct and indirect holdings through various entities, with a total of 325,755 shares held by Horizon Kinetics Hard Assets.
• Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D on December 18, 2024, noting beneficial ownership of 3,578,173 shares.
• Stahl's direct interest is 7,848 shares, and his indirect interest is 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: The sentiment is neutral. The document primarily reports stock purchases under a pre-existing plan, which doesn't necessarily indicate a strong positive or negative outlook. The director's purchase could be seen as a positive signal, but it's part of a scheduled plan.

Positives

• The director's purchase of shares 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

Insider transactions are closely monitored as they can provide insights into a company's prospects. Purchases by directors are often seen as a positive sign.

Stakeholder Impact

• The stock purchases may have a slightly positive impact on shareholder sentiment.

Key Dates

Keywords

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