Director at TXO Partners (NYSE: TXO) adds 10,000 units in open-market buy

Rhea-AI Filing Summary

TXO Partners, L.P. director William H. Adams III reported an open-market purchase of 10,000 Common Units of TXO on May 8, 2026. The units were bought at a weighted average price of $12.4117 per unit, with individual trade prices ranging from $12.35 to $12.48. Following this transaction, Adams directly owns 128,951 Common Units, indicating a larger personal stake in the partnership.

Insider Trade Summary

Net Buyer: 10,000 shares ($124,117)

Net Buy 1 txn

Insider ADAMS WILLIAM H III

Role null

Bought 10,000 shs ($124K)

Type	Security	Shares	Price	Value
Purchase	Common Units	10,000	$12.4117	$124K

Holdings After Transaction: Common Units — 128,951 shares (Direct, null)

Footnotes (1)

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Key Figures

Units purchased: 10,000 Common Units Weighted average price: $12.4117 per unit Post-transaction holdings: 128,951 Common Units +1 more

4 metrics

Units purchased 10,000 Common Units Open-market purchase on May 8, 2026

Weighted average price $12.4117 per unit Price for purchased TXO Common Units

Post-transaction holdings 128,951 Common Units Direct ownership after the reported purchase

Trade price range $12.35–$12.48 per unit Range of individual trade prices in the transaction

Key Terms

Common Units, open-market purchase, weighted average purchase price, Form 4

4 terms

Common Units financial

"This transaction was executed in multiple trades at prices ranging from $12.35 to $12.48."

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

"transaction_action": "open-market purchase""

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.

weighted average purchase price financial

"The price reported above reflects the weighted average purchase price."

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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^*

ADAMS WILLIAM H III

(Last) (First) (Middle)

400 W. 7TH STREET

(Street)

FORT WORTH TEXAS 76102

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TXO Partners, L.P. [ TXO ]

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 Units	05/08/2026		P		10,000(1)	A	$12.4117	128,951	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. This transaction was executed in multiple trades at prices ranging from $12.35 to $12.48. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a secruity holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

The Reporting Person is a director of TXO GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the board of directors and executive officers of the General Partner.

	/s/ Brent W. Clum, Attorney-in-fact	05/11/2026
	** 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 TXO director William H. Adams III report?

William H. Adams III reported an open-market purchase of 10,000 TXO Partners Common Units. The transaction reflects a direct increase in his ownership stake, signaling additional personal capital committed to the partnership’s units.

At what price did William H. Adams III buy TXO common units?

He purchased 10,000 TXO Common Units at a weighted average price of $12.4117 per unit. Individual trades occurred within a range from $12.35 to $12.48, according to the Form 4 footnote disclosure.

How many TXO common units does William H. Adams III own after the purchase?

After this transaction, William H. Adams III directly owns 128,951 Common Units of TXO Partners. This updated total reflects the newly acquired 10,000 units added to his existing holdings as reported in the Form 4 filing.

Was the TXO insider transaction a market purchase or another type of acquisition?

The transaction was an open-market purchase of Common Units, coded as “P” on Form 4. This indicates Adams bought the units on the market or in a private transaction, rather than receiving them as compensation or through option exercises.

What trading range did the TXO units have in William H. Adams III’s purchase?

The Common Units involved in the transaction were executed in multiple trades between $12.35 and $12.48 per unit. The reported transaction price of $12.4117 represents the weighted average purchase price across those individual trades.