Murray Stahl - Mar 1, 2022 Form 4 Insider Report for Texas Pacific Land Corp (TPL)

Role
Director
Signature
/s/Jay Kesslen, attorney-in-fact
Stock symbol
TPL
Transactions as of
Mar 1, 2022
Transactions value $
$97,985
Form type
4
Date filed
3/2/2022, 11:36 AM
Previous filing
Mar 1, 2022
Next filing
Mar 3, 2022

Transactions Table

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The amount of common shares of the Issuer reported excludes other accounts in which Mr. Stahl has a non-controlling interest and does not exercise investment discretion. These accounts are managed by Horizon Kinetics Asset Management LLC ("Horizon"), in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership in any account managed by Horizon except to the extent of his pecuniary interest, if any.
F2 Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer. These accounts are managed by Horizon Kinetics Asset Management LLC ("Horizon"), in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer.
F3 The amount reported as held following the transaction excludes approximately 1,274,576 shares as noted in Horizon's Schedule 13D filed on February 2, 2022, for which Horizon does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts.
F4 The amount of common shares of the Issuer reported excludes partnerships and other accounts in which Mr. Stahl has a controlling interest and are reported separately. These accounts are managed by Horizon, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Manager but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership in any of the accounts managed by Horizon except to the extent of his pecuniary interest, if any.
F5 The amount reported as held reflects a decrease in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a controlling interest to a separate account in which Mr. Stahl has a controlling interest and is reported separately. These accounts are managed by Horizon, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership in any of the accounts managed by Horizon except to the extent of his pecuniary interest, if any.
F6 The amount reported as held reflects an increase in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a controlling interest to a separate account in which Mr. Stahl has a controlling interest and is reported separately. These accounts are managed by Horizon, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership in any of the accounts managed by Horizon except to the extent of his pecuniary interest, if any.
F7 The amount reported as held reflects a decrease in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a direct interest to an account in which Mr. Stahl has a controlling interest and is reported separately.
F8 The amount reported as held reflects an increase in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a direct interest to an account in which Mr. Stahl has a controlling interest and is reported separately.
F9 The amount reported as held reflects an increase in shares resulting from a journal entry transferring from an account in which Mr. Stahl has non-controlling interest into an account in which Mr. Stahl has a controlling interest. These accounts are managed by Horizon, in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership in any of the accounts managed by Horizon except to the extent of his pecuniary interest, if any.