Dorchester Minerals (DMLP) affiliate adds 7,500 common units under 10b5-1 plan

Rhea-AI Filing Summary

Dorchester Minerals Operating LP, an entity under common control with Dorchester Minerals, L.P., reported open-market purchases of Common Units. On May 20, 2026, it bought 6,000 units at $28.32 and 1,500 units at $28.24, totaling 7,500 units. After these trades, its direct holdings were reported at 62,517 Common Units. The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 12, 2025, indicating they were scheduled in advance rather than discretionary market-timed buys.

Insider Trade Summary 10b5-1

Net Buyer: 7,500 shares ($212,280)

Net Buy 2 txns

Insider DORCHESTER MINERALS OPERATING LP

Role null

Bought 7,500 shs ($212K)

Type	Security	Shares	Price	Value
Purchase	Common Units	1,500	$28.24	$42K
Purchase	Common Units	6,000	$28.32	$170K

Holdings After Transaction: Common Units — 56,517 shares (Direct, null)

Footnotes (1)

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Key Figures

Units purchased (first trade): 6,000 Common Units Price per unit (first trade): $28.32 per unit Units purchased (second trade): 1,500 Common Units +2 more

5 metrics

Units purchased (first trade) 6,000 Common Units Open-market purchase at $28.32 on May 20, 2026

Price per unit (first trade) $28.32 per unit 6,000 Common Units bought May 20, 2026

Units purchased (second trade) 1,500 Common Units Open-market purchase at $28.24 on May 20, 2026

Net units bought 7,500 Common Units Total open-market purchases reported in this Form 4

Holdings after transactions 62,517 Common Units Direct ownership reported post-trade

Key Terms

Common Units, open-market purchase, Rule 10b5-1 trading plan

3 terms

Common Units financial

"it bought 6,000 units at $28.32 and 1,500 units at $28.24, totaling 7,500 units"

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

open-market purchase financial

"reported open-market purchases of Common Units"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Rule 10b5-1 trading plan regulatory

"executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 12, 2025"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DORCHESTER MINERALS OPERATING LP

(Last) (First) (Middle)

3838 OAK LAWN AVE

SUITE 300

(Street)

DALLAS TEXAS 75219

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DORCHESTER MINERALS, L.P. [ DMLP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Entity Under Common Control

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Units	05/20/2026		P(1)		1,500	A	$28.24	56,517	D
Common Units	05/20/2026		P(1)		6,000	A	$28.32	62,517	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Adoption date of referenced 10b5-1 plan is: 11-12-2025

	/s/ Leslie A. Moriyama	05/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

How many Dorchester Minerals (DMLP) units were bought in this Form 4?

The reporting entity bought a total of 7,500 Common Units of Dorchester Minerals, L.P. It acquired 6,000 units at $28.32 and 1,500 units at $28.24 in open-market transactions on May 20, 2026.

Who made the recent Dorchester Minerals (DMLP) insider purchases?

The buyer was Dorchester Minerals Operating LP, listed as an entity under common control with Dorchester Minerals, L.P. It holds the Common Units directly and reported the purchases as open-market transactions in this Form 4 filing.

At what prices were Dorchester Minerals (DMLP) units purchased?

The Common Units were purchased at two prices: 6,000 units at $28.32 per unit and 1,500 units at $28.24. Both transactions were categorized as open-market purchases in non-derivative securities on May 20, 2026.

What are Dorchester Minerals Operating LP’s holdings after these DMLP trades?

Following the reported transactions, Dorchester Minerals Operating LP’s direct holdings were 62,517 Common Units of Dorchester Minerals, L.P. This post-transaction figure reflects the additional 7,500 units acquired in the open-market purchases disclosed in the Form 4.

Were the Dorchester Minerals (DMLP) insider trades under a 10b5-1 plan?

Yes. A footnote states the trades were made under a Rule 10b5-1 trading plan adopted on November 12, 2025. Such plans pre-schedule trades, suggesting these purchases were part of a predetermined program rather than opportunistic timing.

What type of transactions were reported in this Dorchester Minerals (DMLP) Form 4?

The filing reports non-derivative, open-market purchases of Common Units, coded “P” for purchase. There were two buy transactions on May 20, 2026, and no reported sales, gifts, tax withholdings, or derivative exercises in this Form 4.