Texas Pacific Land Corp — Director's Dealing 2022

Feb 2, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Texas Pacific Land Corp (TPL)
CIK: 0001811074
Period of Report: 2022-02-01

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
2022-02-01	Common Stock	P	1	$1122.26	Acquired	43023	Indirect
2022-02-01	Common Stock	P	2	$1122.26	Acquired	103262	Indirect
2022-02-01	Common Stock	P	2	$1122.26	Acquired	1253	Indirect
2022-02-01	Common Stock	P	3	$1122.26	Acquired	1573	Direct
2022-02-01	Common Stock	P	12	$1122.26	Acquired	215540	Indirect
2022-02-01	Common Stock	J	18	$1075	Disposed	1235	Indirect
2022-02-01	Common Stock	J	18	$1075	Acquired	103280	Indirect
2022-02-01	Common Stock	J	27	$1075	Disposed	1546	Direct
2022-02-01	Common Stock	J	27	$1075	Acquired	103307	Indirect
2022-02-01	Common Stock	J	50	$1075	Acquired	103357	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1444	Indirect
Common Stock	2469	Indirect
Common Stock	5417	Indirect
Common Stock	1441	Indirect
Common Stock	60	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 1,274,576 shares as noted in Horizon's Schedule 13D filed on February 2, 2022, 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: This figure has been corrected less 1,689 shares due to a terminated account on January 29, 2021. The shares were distributed to the beneficial owner without consideration as a result of the termination of an investment management agreement with respect to the shares.

F6: The amount reported as held reflects a decrease in shares resulting from a journal entry transferring 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 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.

F8: The amount reported as held reflects a decrease in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a direct interest to an account in which Mr. Stahl has a controlling interest and is reported separately.

F9: The amount reported as held reflects an increase in shares resulting from a journal entry transferring from an account in which Mr. Stahl has a direct interest to an account in which Mr. Stahl has a controlling interest and is reported separately.

F10: 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.