TXO Partners (TXO) director receives 10,667 phantom units vesting in 2027

Rhea-AI Filing Summary

TXO Partners, L.P. director Rick Jacob Settle reported receiving 10,667 phantom units of the company’s common units on January 31, 2026. The award was recorded at a price of $0 per unit and increased his directly held beneficial ownership to 37,383 common units.

The phantom units are economically equivalent to common units and will be settled in common units when they vest. According to the disclosure, these phantom units are scheduled to vest on January 31, 2027, aligning Settle’s future holdings with the partnership’s equity performance.

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^*

Settle Rick Jacob

(Last) (First) (Middle)

400 W 7TH STREET

(Street)

FORT WORTH TX 76102

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/31/2026

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	01/31/2026		A		10,667(1)	A	$0	37,383	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. Reflects phantom units. Each phantom unit is the economic equivalent of one common unit of the Issuer and will be settled in common units upon vesting. The phantom units will vest on January 31, 2027.

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 directors and executive officers of the General Partner.

	/s/ Brent W. Clum, Attorney-in-fact	02/03/2026
	** 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).
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FAQ

What insider transaction did TXO director Rick Jacob Settle report?

Rick Jacob Settle reported receiving 10,667 phantom units of TXO Partners, L.P. common units. The transaction occurred on January 31, 2026, was coded as an acquisition at $0 per unit, and increased his directly held beneficial ownership to 37,383 common units.

How many TXO Partners (TXO) units does Rick Jacob Settle now beneficially own?

After the reported transaction, Rick Jacob Settle beneficially owns 37,383 TXO Partners, L.P. common units directly. This reflects the addition of 10,667 phantom units that were recorded at a price of $0 per unit in the Form 4 filing.

What are the terms of the phantom units reported by TXO director Settle?

The filing states the 10,667 phantom units are economically equivalent to TXO common units and will be settled in common units. These phantom units are scheduled to vest on January 31, 2027, at which time they convert into actual common units of the issuer.

When do Rick Jacob Settle’s TXO phantom units vest?

The 10,667 phantom units reported by Rick Jacob Settle vest on January 31, 2027. Upon vesting, each phantom unit will be settled in one TXO Partners, L.P. common unit, reflecting their stated economic equivalence to the issuer’s common equity.

What role does Rick Jacob Settle hold at TXO Partners, L.P.?

Rick Jacob Settle is identified as a director of TXO GP, LLC, the general partner of TXO Partners, L.P. The issuer is managed by the directors and executive officers of the general partner, according to the disclosure’s remarks section.