Leslie A. Moriyama - 15 Dec 2025 Form 4 Insider Report for DORCHESTER MINERALS, L.P. (DMLP)

Role: Chief Financial Officer
Signature: /s/ Leslie A. Moriyama
Issuer symbol: DMLP
Transactions as of: 15 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 17 Dec 2025, 17:28:14 UTC
Previous filing: 05 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
MORIYAMA LESLIE A	Chief Financial Officer	3838 OAK LAWN AVE, SUITE 300, DALLAS	/s/ Leslie A. Moriyama	16 Dec 2025	0001642865

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DMLP	Common Units	Options Exercise	$0	+4,351	+4.6%	$0.000000	99,964	15 Dec 2025	Direct	F1
transaction	DMLP	Common Units	Tax liability	$0	-1,756	-1.8%	$0.000000	98,208	15 Dec 2025	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DMLP	Notional Units	Options Exercise	$0	-4,351	-50%	$0.000000	4,350	15 Dec 2025	Common Units	4,351		Direct	F3

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

Explanation of Responses:

Id	Content
F1	These common units are held by Ms. Moriyama in her individual name, jointly with her spouse or in her Individual Retirement Account.
F2	Represents payment of tax liability incident to the grant of common units awarded to the reporting person on December 15, 2025 pursuant to an equity incentive plan, by withholding common units from such grant.
F3	Notional Units granted on December 15, 2023, pursuant to the Dorchester Minerals Management LP Equity Incentive program. Each Notional Unit entitles the holder to receive either (1) the number of common units representing limited partnership interests in Dorchester Minerals, L.P. (the "Common Units") equal to the number of Notional Units that become vested or (2) the cash equivalent at the time of vesting of the number of Common Units equal to the number of Notional Units that become vested. One-third of the Notional Units vest on each anniversary of the date of the award agreement over a three year period beginning on December 15, 2024. Vested Notional Units are settled within 60 days after the date on which they vest.