Texas Pacific Land Corp — Director's Dealing 2021

Sep 3, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Texas Pacific Land Corp (TPL)
CIK: 0001811074
Period of Report: 2021-09-02

Reporting Person: STAHL MURRAY (Director)
Reporting Person: HORIZON KINETICS ASSET MANAGEMENT LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-02	Common Stock	P	1	$1327.86	Acquired	42919	Indirect
2021-09-02	Common Stock	P	2	$1327.86	Acquired	102598	Indirect
2021-09-02	Common Stock	P	1	$1327.86	Acquired	1397	Indirect
2021-09-02	Common Stock	P	2	$1327.86	Acquired	1135	Indirect
2021-09-02	Common Stock	P	2	$1327.86	Acquired	1291	Direct
2021-09-02	Common Stock	P	1	$1327.86	Acquired	1292	Direct
2021-09-02	Common Stock	P	12	$1327.86	Acquired	228959	Indirect
2021-09-02	Common Stock	J	18	$1359.74	Disposed	1117	Indirect
2021-09-02	Common Stock	J	18	$1359.74	Acquired	102616	Indirect
2021-09-02	Common Stock	J	42	$1359.74	Acquired	102658	Indirect

Footnotes

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 1,343,167 shares as noted in Horizon's Schedule 13D filed on January 12, 2021, 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 to/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 to/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 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.