Texas Pacific Land (TPL) director Peter Doyle granted 254 shares in annual board retainer

Rhea-AI Filing Summary

DOYLE PETER reported acquisition or exercise transactions in this Form 4 filing.

Texas Pacific Land Corp director Peter Doyle reported an equity grant and updated holdings. He received 254 shares of Common Stock as part of the stock portion of his annual board retainer, bringing his directly held shares to 147,139. The filing also lists indirect holdings of 1,805 and 11,286 shares held in trusts for which his spouse serves as trustee.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider DOYLE PETER

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	254	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 147,139 shares (Direct, null); Common Stock — 11,286 shares (Indirect, Spouse)

Footnotes (1)

1. Constitutes stock portion of annual retainer for the year of board service by the Reporting Person commencing January 1, 2026, prorated for the Reporting Person's board service beginning on May 5, 2026. The Reporting Person's spouse serves as trustee for these shares held in trust.

Key Figures

Equity grant: 254 shares Direct holdings after grant: 147,139 shares Indirect holdings (trust 1): 1,805 shares +3 more

6 metrics

Equity grant 254 shares Stock portion of annual board retainer

Direct holdings after grant 147,139 shares Common Stock held directly after 254-share grant

Indirect holdings (trust 1) 1,805 shares Common Stock held indirectly; spouse trustee

Indirect holdings (trust 2) 11,286 shares Common Stock held indirectly; spouse trustee

Transaction code A Grant, award, or other acquisition of Common Stock

Grant price $0.0000 per share Compensation grant, not market purchase

Key Terms

annual retainer, non-derivative, indirect, trustee

4 terms

annual retainer financial

"Constitutes stock portion of annual retainer for the year of board service"

non-derivative financial

""transaction_type": "non-derivative""

indirect financial

""ownership_type": "indirect""

trustee financial

"The Reporting Person's spouse serves as trustee for these shares held in trust"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

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).

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^*

DOYLE PETER

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

8TH FLOOR SOUTH

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Texas Pacific Land Corp [ TPL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

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 Stock	05/08/2026		A		254	A	$0	147,139(1)	D
Common Stock								11,286	I	Spouse
Common Stock								1,805(2)	I	Spouse

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. Constitutes stock portion of annual retainer for the year of board service by the Reporting Person commencing January 1, 2026, prorated for the Reporting Person's board service beginning on May 5, 2026.

2. The Reporting Person's spouse serves as trustee for these shares held in trust.

Remarks:

The Reporting Person, an employee of Horizon Kinetics Asset Management LLC and/or one of its affiliates (collectively, "HKAM"), is a member of the board of directors of the Issuer. HKAM has filed reports with the Securities and Exchange Commission reporting securities of the Issuer that it may be deemed to beneficially own. The Reporting Person does not exercise discretion of the securities of the Issuer and disclaims beneficial ownership that may be deemed to be beneficially owned by HKAM except to the extent of his pecuniary interest, if any.

	/s/ Jay Kesslen, attorney-in-fact	05/12/2026
	** 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

What insider transaction did Peter Doyle report for TPL on this Form 4?

Peter Doyle reported receiving an equity grant of 254 shares of Texas Pacific Land Corp Common Stock. This stock grant forms part of his annual board retainer for service beginning in 2026, rather than an open-market purchase or sale.

How many Texas Pacific Land (TPL) shares does Peter Doyle hold directly after this grant?

After the reported grant, Peter Doyle holds 147,139 shares of Texas Pacific Land Corp Common Stock directly. This figure reflects his position following the 254-share stock portion of his annual board retainer.

What indirect Texas Pacific Land (TPL) holdings related to Peter Doyle are disclosed?

The filing discloses 1,805 and 11,286 TPL Common Stock shares as indirect holdings. These shares are held in trusts where Doyle’s spouse serves as trustee, indicating they are associated with him but not held in his name directly.

Is the 254-share TPL grant to Peter Doyle a market purchase or compensation?

The 254-share grant is compensation, not a market purchase. It represents the stock portion of Peter Doyle’s annual board retainer for service in 2026, prorated from when he began serving on the board.

How is Peter Doyle’s spouse involved in the reported TPL share holdings?

Peter Doyle’s spouse serves as trustee for the trusts holding the 1,805 and 11,286 shares. This means the indirect holdings are in trusts overseen by his spouse, rather than being held directly in Doyle’s personal brokerage account.