EPPS DONNA E 4

What Happened
Director Donna Epps executed offsetting open-market transactions in Texas Pacific Land (TPL) stock on Feb 25, 2026: she sold 895 shares at $510.08 per share for $456,522, and on the same day purchased 895 shares at $510.45 per share for $456,853. Because the repurchase price exceeded the sale price, no short-swing profit was realized on these matchable transactions.

Key Details

• Transaction date: 2026-02-25 (reported on Form 4 filed 2026-02-27). Filing appears timely.
• Sale: 895 shares @ $510.08 = $456,522. (Code: S)
• Purchase: 895 shares @ $510.45 = $456,853. (Code: P)
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: The reporting person noted these transactions may be matchable under Section 16(b). Because the purchase price exceeded the sale price, no profit was realized; the reporting person agreed to disgorge any profits from matchable transactions occurring within six months.

Context
Offsetting same-day sell-and-rebuy trades can reflect routine portfolio rebalancing or settlement mechanics rather than a directional view. Purchases are generally watched as more informative for sentiment, but here the buy simply restored the position at a slightly higher price and the filer confirmed there was no short-swing profit.