KEVIL PHILLIP R 4

What Happened
Phillip R. Kevil, a director of TXO GP, LLC (the general partner of TXO Partners, L.P.), received a grant of 10,667 phantom units on January 31, 2026. The units were granted at $0.00 (no cash paid) and have an economic value equivalent to one common unit each; they will be settled in common units when they vest. This is an award/grant (not a purchase or sale).

Key Details

• Transaction date: January 31, 2026; Form 4 filed February 3, 2026 (appears timely).
• Amount: 10,667 phantom units granted; reported per-unit price $0.00 (aggregate reported value $0).
• Vesting/settlement: Phantom units vest and will be settled in common units on January 31, 2027 (per footnote).
• Ownership after transaction: Not specified in the filing.
• Role note: Reporting person is a director of TXO GP, LLC, the Issuer’s general partner.

Context
Phantom units are a form of deferred/derivative compensation that provide the economic equivalent of common units and convert to actual common units upon vesting; no immediate cash changed hands. Grants to directors are common as compensation and do not by themselves indicate a buy/sell signal.