Texas Pacific Land Corp — Director's Dealing 2025

Mar 19, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Texas Pacific Land Corp (TPL)
CIK: 0001811074
Period of Report: 2025-03-18

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
2025-03-18	Common Stock	P	2	$1344	Acquired	325679	Indirect
2025-03-18	Common Stock	P	1	$1344	Acquired	5547	Indirect
2025-03-18	Common Stock	P	3	$1344	Acquired	8031	Direct
2025-03-18	Common Stock	P	2	$1344	Acquired	5604	Indirect
2025-03-18	Common Stock	P	1	$1344	Acquired	129212	Indirect
2025-03-18	Common Stock	P	1	$1337.31	Acquired	635191	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4416	Indirect
Common Stock	7452	Indirect
Common Stock	16647	Indirect
Common Stock	180	Indirect
Common Stock	5490	Indirect
Common Stock	24024	Indirect

Footnotes

F1: Purchased pursuant to a Rule 10b5-1 plan adopted on November 21, 2024.

F2: On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.

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. Mr. Stahl disclaims beneficial ownership over the shares reported except to the extent of his pecuniary interest, if any.