Form 4: TXO Partners Director Luther King Jr. Reports Acquisition of Common Units and Phantom Units

Director Luther King Jr. reports acquiring 3,900 phantom units and discloses beneficial ownership of common units through various entities.

Summary

• On January 31, 2025, Luther King Jr., a director of TXO Partners, reported acquiring 3,900 phantom units, each equivalent to one common unit, at a price of $0.
• These phantom units will vest on January 31, 2026.
• King also indirectly owns 2,561,530 common units through LKCM Investment Partnership, L.P. (LIP) and LKCM Private Discipline Master Fund, SPC (PDP).
• Specifically, LIP holds 1,189,400 common units, and PDLP holds 1,372,130 common units.
• These common units were received on August 1, 2023, from MorningStar Partners II, L.P. as a pro rata distribution.
• King disclaims beneficial ownership of these units except to the extent of his pecuniary interest.
• The reporting person is a Director of TXO GP, LLC, the general partner of the Issuer (the 'General Partner').
• The Issuer is managed by the directors and executive officers of the General Partner.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of phantom units by a director could be seen as a positive sign of confidence in the company's future performance.

Future Outlook

The phantom units will vest on January 31, 2026, potentially increasing King's direct holdings of common units at that time.

Management Comments

• Mr. King expressly disclaims beneficial ownership of the Common Units reported herein except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider ownership.

Key Dates