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Texas Pacific Land (TPL) GC logs RSU, PSU share awards and tax surrenders

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Texas Pacific Land Corp executive Micheal W. Dobbs reported multiple equity-compensation transactions dated February 10, 2026. He acquired 819 shares of common stock through the exercise of restricted stock units at $0 per share and received an additional 4,132 common shares from vested performance share units based on achieved performance targets.

To cover tax withholding obligations, 379 and 1,832 shares of common stock were surrendered at a price of $401.62 per share. After these transactions, he directly owned 6,919 shares of common stock, along with outstanding restricted stock units scheduled to vest in 2026, 2027 and 2028. All share figures reflect a 3-for-1 stock split effective December 22, 2025.

Positive

  • None.

Negative

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Insider Dobbs Micheal W.
Role Senior VP, Secretary and GC
Type Security Shares Price Value
Exercise Restricted Stock Units 819 $0.00 --
Exercise Common Stock 819 $0.00 --
Tax Withholding Common Stock 379 $401.62 $152K
Grant/Award Common Stock 4,132 $0.00 --
Tax Withholding Common Stock 1,832 $401.62 $736K
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 4,998 shares (Direct)
Footnotes (1)
  1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person. On February 10, 2023, the Reporting Person was granted performance share units ("PSUs"), the vesting of which was subject to the achievement of certain relative total shareholder return ("RTSR") and free cash flow per share ("FCF") 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 171% of target for the RTSR PSUs and 164% of target for the FCF PSUs. PSUs convert into common stock on a one-for-one basis. Each RSU has a value equal to one share of common stock. All of the RSUs reported vested on February 10, 2026. Each RSU has a value equal to one share of common stock. Of such RSUs, 456 vest on February 15 of each of 2026, 2027 and 2028. Each RSU has a value equal to one share of common stock. Of such RSUs, 1,206 vest on February 13 of each of 2026 and 2027.
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*
Dobbs Micheal W.
(Last) (First) (Middle)
C/O TEXAS PACIFIC LAND CORPORATION
2699 HOWELL STREET, SUITE 800
(Street)
DALLAS TX 75204
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Texas Pacific Land Corp [ TPL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior VP, Secretary and GC
3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026
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 Stock 02/10/2026 M 819 A (1) 4,998 D
Common Stock 02/10/2026 F 379(2) D $401.62 4,619 D
Common Stock 02/10/2026 A 4,132(3) A $0(4) 8,751 D
Common Stock 02/10/2026 F 1,832(2) D $401.62 6,919 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
Restricted Stock Units (5) 02/10/2026 M 819 (5) (5) Common Stock 819 $0 0 D
Restricted Stock Units (6) (6) (6) Common Stock 1,368 1,368 D
Restricted Stock Units (7) (7) (7) Common Stock 2,412 2,412 D
Explanation of Responses:
1. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
2. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
3. On February 10, 2023, the Reporting Person was granted performance share units ("PSUs"), the vesting of which was subject to the achievement of certain relative total shareholder return ("RTSR") and free cash flow per share ("FCF") 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 171% of target for the RTSR PSUs and 164% of target for the FCF PSUs.
4. PSUs convert into common stock on a one-for-one basis.
5. Each RSU has a value equal to one share of common stock. All of the RSUs reported vested on February 10, 2026.
6. Each RSU has a value equal to one share of common stock. Of such RSUs, 456 vest on February 15 of each of 2026, 2027 and 2028.
7. Each RSU has a value equal to one share of common stock. Of such RSUs, 1,206 vest on February 13 of each of 2026 and 2027.
Remarks:
All share amounts reflect the 3-for-1 stock split effected on December 22, 2025.
/s/ Micheal W. Dobbs 02/12/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did TPL executive Micheal W. Dobbs report on February 10, 2026?

Micheal W. Dobbs reported equity-compensation transactions on February 10, 2026, involving restricted stock units and performance share units. He acquired common shares at $0 per share, then surrendered some shares at $401.62 per share to satisfy tax withholding obligations tied to those awards.

How many Texas Pacific Land (TPL) shares did Micheal W. Dobbs acquire and surrender?

Dobbs acquired 819 common shares from restricted stock units and 4,132 common shares from vested performance share units. He surrendered 379 shares and 1,832 shares at $401.62 per share to cover tax withholding obligations, as disclosed in the footnotes and transaction codes.

What is Micheal W. Dobbs’ TPL common stock holding after the reported Form 4 transactions?

After the reported transactions, Dobbs directly owned 6,919 shares of Texas Pacific Land common stock. This balance reflects exercises, awards, and tax-related share surrenders, with all share amounts adjusted for the 3-for-1 stock split effective December 22, 2025.

How are restricted stock units and performance share units treated in the TPL Form 4 filing?

Restricted stock units and performance share units convert into common stock on a one-for-one basis. Certain RSUs vested on February 10, 2026, while others vest in 2026, 2027, and 2028, providing future share deliveries if service and performance conditions are satisfied.

What performance criteria affected Micheal W. Dobbs’ performance share unit vesting at TPL?

The performance share units granted February 10, 2023 vested based on relative total shareholder return and free cash flow per share. Vesting occurred at 171% of target for the RTSR units and 164% of target for the FCF units, leading to 4,132 shares of common stock.

How did the 3-for-1 stock split impact the share numbers in the TPL Form 4?

All reported share amounts reflect a 3-for-1 stock split effective December 22, 2025. This means historical grants and holdings were adjusted so that each original share became three shares, increasing the numerical share counts while keeping the underlying economic interest the same.