ADAMS WILLIAM H III 4

What Happened

• William H. Adams III, a director of TXO GP, LLC (the general partner of TXO Partners, L.P.), received an award of 10,667 phantom units on January 31, 2026. The units were recorded at $0.00 per unit (no cash purchase) and are compensation/award units rather than an open-market purchase or sale.
• These phantom units are the economic equivalent of one common unit each and will be settled in common units upon vesting on January 31, 2027. This is a grant of long-term compensation, not an immediate cash or stock sale.

Key Details

• Transaction date: 2026-01-31; Filing date: 2026-02-03 (Form 4 accession 0001193125-26-036451).
• Amount: 10,667 phantom units granted at $0.00 (acquired). Total immediate cash value shown: $0.
• Vesting/settlement: Phantom units vest and will be settled in common units on January 31, 2027 (Footnote F1).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed Feb 3, 2026 for the Jan 31 transaction; no late-filing notice included in the report.

Context

• Phantom unit grants are a form of equity-linked compensation; they do not reflect an open-market purchase (which some investors view as a stronger bullish signal). They are typically intended to align management/directors’ interests with long-term shareholder value.
• The reporting person is a director of the general partner that manages the issuer, per the filing remarks.