Murray Stahl - Jul 26, 2023 Form 4/A - Amendment Insider Report for Texas Pacific Land Corp (TPL)

Role
Director
Signature
/s/Jay Kesslen, attorney-in-fact
Stock symbol
TPL
Transactions as of
Jul 26, 2023
Transactions value $
$13,602
Form type
4/A - Amendment
Date filed
7/31/2023, 02:29 PM
Date Of Original Report
Jul 27, 2023
Previous filing
Jul 31, 2023
Next filing
Jul 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPL Common Stock Purchase $1.51K +1 +0% $1,513.78 43.3K Jul 26, 2023 Polestar Offshore Fund Ltd F1, F2
transaction TPL Common Stock Purchase $3.02K +2 +0% $1,511.00 105K Jul 26, 2023 Horizon Kinetics Hard Assets LLC F1, F2, F3
transaction TPL Common Stock Purchase $1.51K +1 +0.06% $1,511.00 1.71K Jul 26, 2023 Horizon Credit Opportunity Fund LP F1, F2
transaction TPL Common Stock Purchase $3.02K +2 +0.13% $1,511.00 1.59K Jul 26, 2023 Horizon Common Inc F1, F3
transaction TPL Common Stock Purchase $4.53K +3 +0.14% $1,511.00 2.14K Jul 26, 2023 Direct F2, F4
holding TPL Common Stock 198K Jul 26, 2023 Horizon Kinetics Asset Management LLC F5
holding TPL Common Stock 1.47K Jul 26, 2023 Horizon Kinetics Hard Assets II LLC F1
holding TPL Common Stock 2.48K Jul 26, 2023 CDK Partners LP F1
holding TPL Common Stock 5.55K Jul 26, 2023 CDK Fund Ltd F1
holding TPL Common Stock 60 Jul 26, 2023 Spouse F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 except to the extent of his pecuniary interest, if any.
F2 Purchased pursuant to a Rule 10b5-1 plan adopted on March 15, 2023.
F3 This corrects a previous filing which incorrectly listed the aggregate ownership as 43,312 instead of 104,975.
F4 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.
F5 The amount reported as held excludes approximately 1,206,558 shares as noted in Horizon's Schedule 13D filed on January 26, 2023, 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.