CHRIS STEDDUM - 10 Feb 2025 Form 4 Insider Report for Texas Pacific Land Corp (TPL)

Role
Chief Financial Officer
Signature
/s/ Micheal W. Dobbs, attorney-in-fact
Issuer symbol
TPL
Transactions as of
10 Feb 2025
Net transactions value
-$2,503,761
Form type
4
Filing time
12 Feb 2025, 18:01:49 UTC
Previous filing
15 Nov 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 +423 +25% 2,095 10 Feb 2025 Direct F1
transaction TPL Common Stock Tax liability $269,332 -195 -9.3% $1381.19 1,900 10 Feb 2025 Direct F2
transaction TPL Common Stock Options Exercise +516 +27% 2,416 11 Feb 2025 Direct F1
transaction TPL Common Stock Tax liability $319,204 -234 -9.7% $1364.12 2,182 11 Feb 2025 Direct F2
transaction TPL Common Stock Award $0 +3,096 +142% $0.000000 5,278 11 Feb 2025 Direct F3, F4
transaction TPL Common Stock Tax liability $1,915,224 -1,404 -27% $1364.12 3,874 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 -423 -50% $0.000000 423 10 Feb 2025 Common Stock 423 Direct F5
transaction TPL Restricted Stock Units Options Exercise $0 -516 -100% $0.000000 0 11 Feb 2025 Common Stock 516 Direct F6
holding TPL Restricted Stock Units 2,072 10 Feb 2025 Common Stock 2,072 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, 423 vested on February 10, 2025 and 423 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, 690 vest on February 13, 2025 and 691 vest on February 13 of each of 2026 and 2027.