Micheal W. Dobbs - 10 Feb 2025 Form 4 Insider Report for Texas Pacific Land Corp (TPL)

Role
Senior VP, Secretary and GC
Signature
/s/ Micheal W. Dobbs, attorney-in-fact
Issuer symbol
TPL
Transactions as of
10 Feb 2025
Net transactions value
-$1,520,399
Form type
4
Filing time
12 Feb 2025, 18:02:47 UTC
Previous filing
15 Feb 2024
Next filing
18 Feb 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPL Common Stock Options Exercise +273 +29% 1,203 10 Feb 2025 Direct F1
transaction TPL Common Stock Tax liability $172,649 -125 -10% $1381.19 1,078 10 Feb 2025 Direct F2
transaction TPL Common Stock Options Exercise +321 +30% 1,399 11 Feb 2025 Direct F1
transaction TPL Common Stock Tax liability $193,705 -142 -10% $1364.12 1,257 11 Feb 2025 Direct F2
transaction TPL Common Stock Award $0 +1,908 +152% $0.000000 3,165 11 Feb 2025 Direct F3, F4
transaction TPL Common Stock Tax liability $1,154,046 -846 -27% $1364.12 2,319 11 Feb 2025 Direct 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 TPL Restricted Stock Units Options Exercise $0 -273 -50% $0.000000 273 10 Feb 2025 Common Stock 273 Direct F5
transaction TPL Restricted Stock Units Options Exercise $0 -321 -100% $0.000000 0 11 Feb 2025 Common Stock 321 Direct F6
holding TPL Restricted Stock Units 1,206 10 Feb 2025 Common Stock 1,206 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2 Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F3 On February 11, 2022, the Reporting Person was granted performance share units ("PSUs"), the vesting of which was subject to the achievement of certain relative total shareholder return and free cash flow per share performance criteria. The number of shares reported represents the number of PSUs that vested as a result of the achievement of such performance criteria at 200% of target.
F4 PSUs convert into common stock on a one-for-one basis.
F5 Each RSU has a value equal to one share of common stock. Of such RSUs, 273 vested on February 10, 2025 and 273 will vest on February 10, 2026.
F6 Each RSU has a value equal to one share of common stock. All of the RSUs reported vested on February 11, 2025.
F7 Each RSU has a value equal to one share of common stock. Of such RSUs, 402 vest on February 13 of each of 2025, 2026 and 2027.

Remarks:

All share amounts reflect the 3-for-1 stock split effected on March 26, 2024.