Murray Stahl - Oct 30, 2024 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
Oct 30, 2024
Transactions value $
$13,488
Form type
4
Date filed
10/31/2024, 11:02 AM
Previous filing
Oct 30, 2024
Next filing
Nov 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPL Common Stock Purchase $2.23K +2 +0% $1,116.91 316K Oct 30, 2024 Horizon Kinetics Hard Assets LLC F1, F2
transaction TPL Common Stock Purchase $1.12K +1 +0.02% $1,116.91 5.52K Oct 30, 2024 Horizon Credit Opportunity Fund LP F1, F2
transaction TPL Common Stock Purchase $3.35K +3 +0.04% $1,116.91 7.81K Oct 30, 2024 Direct F1, F2
transaction TPL Common Stock Purchase $2.23K +2 +0.04% $1,116.91 5.55K Oct 30, 2024 Horizon Common Inc F1, F2
transaction TPL Common Stock Purchase $1.12K +1 +0% $1,116.91 130K Oct 30, 2024 Polestar Offshore Fund Ltd F1, F2
transaction TPL Common Stock Purchase $3.44K +3 +0% $1,145.31 645K Oct 30, 2024 Horizon Kinetics Asset Management LLC F1, F3
holding TPL Common Stock 4.42K Oct 30, 2024 Horizon Kinetics Hard Assets II LLC F1
holding TPL Common Stock 7.45K Oct 30, 2024 CDK Partners LP F1
holding TPL Common Stock 16.6K Oct 30, 2024 CDK Fund Ltd F1
holding TPL Common Stock 180 Oct 30, 2024 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 On February 28, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13d, in which it noted beneficial ownership of 1,271,975 shares and Murray Stahl's direct interest in 2,474 shares and his indirect interest in approximately 53,550 shares. On March 27, 2024, the Issuer effectuated a split of its common stock 3-for-1, so the figures reported in Schedule 13d should be deemed to have been multiplied by 3 as of such date. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein, and the accounts in which Mr. Stahl has a controlling interest are reported as separate line items. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.
F2 Purchased pursuant to a Rule 10b5-1 plan adopted on May 14, 2024.
F3 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 HKAM, 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.