Kimbell (NYSE: KRP) CEO reports tax-withholding unit transfers

Rhea-AI Filing Summary

Kimbell Royalty Partners, LP Chief Executive Officer Robert D. Ravnaas reported several tax-related unit dispositions. On March 4, 2026, he delivered 30,496 and 36,597 common units at prices of $14.54 per unit to satisfy tax obligations, leaving direct holdings of 652,092 and then 615,495 common units after each transaction. On March 3, 2026, he delivered 24,209 common units at $14.57 per unit for the same purpose, with 682,588 units directly owned afterward. Additional common units are held indirectly through a Spousal Lifetime Access Trust, Kimbell GP Holdings, LLC, and Princeton Royalties, LLC.

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

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

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^*

Ravnaas Robert D.

(Last) (First) (Middle)

777 TAYLOR STREET,

SUITE 810

(Street)

FORT WORTH TX 76102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kimbell Royalty Partners, LP [ KRP ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

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

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

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

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 representing limited partner interests	03/03/2026		F		24,209	D	$14.57	682,588	D
Common units representing limited partner interests	03/04/2026		F		30,496	D	$14.54	652,092	D
Common units representing limited partner interests	03/04/2026		F		36,597	D	$14.54	615,495	D
Common units representing limited partner interests								761,194	I	By SLAT(1)
Common units representing limited partner interests								10,000	I	See footnote(2)
Common units representing limited partner interests								1,368	I	See footnote(3)

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. These Common Units are owned directly by a Spousal Lifetime Access Trust ("SLAT"). The reporting person is trustee of the SLAT and retains investment authority over the Common Units.

2. These Common Units are owned directly by Kimbell GP Holdings, LLC. The reporting person is the sole member of Rochelle Royalties, LLC, a member of Kimbell GP Holdings, LLC.

3. These Common Units are owned directly by Princeton Royalties, LLC. The reporting person is the manager and a member of Westside Energy, LLC, a member of Princeton Royalties, LLC.

	/s/ Jamie L. Hayes, Attorney-in-Fact	03/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did KRP CEO Robert Ravnaas report?

KRP CEO Robert Ravnaas reported tax-related dispositions of common units. He delivered units to cover tax liabilities associated with equity awards, rather than executing open-market sales, while retaining substantial direct and indirect ownership in Kimbell Royalty Partners, LP.

How many KRP common units did Robert Ravnaas deliver for taxes and at what prices?

Robert Ravnaas delivered blocks of 30,496 and 36,597 KRP common units at $14.54, and 24,209 units at $14.57. These code F transactions were for payment of tax liabilities tied to equity compensation awards, not discretionary market sales.

What were Robert Ravnaas’ direct KRP holdings after the reported transactions?

After the reported tax-withholding dispositions, Robert Ravnaas’ direct KRP holdings were 682,588 units following the March 3 transaction and 652,092 then 615,495 units following the two March 4 events, reflecting continued significant ownership in Kimbell Royalty Partners, LP.

Were the KRP CEO’s transactions classified as open-market sales or tax events?

The KRP CEO’s transactions were classified as tax events. Each was coded “F,” indicating payment of exercise price or tax liability by delivering securities, distinguishing them from typical open-market sales executed at the insider’s discretion.

Does Robert Ravnaas hold additional KRP units indirectly through other entities?

Yes. Additional KRP common units are held indirectly by a Spousal Lifetime Access Trust, Kimbell GP Holdings, LLC, and Princeton Royalties, LLC, where he has specified roles such as trustee, member, or manager, providing further economic exposure beyond his direct holdings.

What role does the Spousal Lifetime Access Trust play in KRP unit ownership?

A Spousal Lifetime Access Trust directly owns certain KRP common units. Robert Ravnaas serves as trustee of this SLAT and retains investment authority over those units, meaning he can direct investment decisions for that portion of his indirect Kimbell Royalty Partners, LP holdings.