Dobbs Micheal W. 4

4 · Texas Pacific Land Corp · Filed Feb 12, 2026

AI-generated summary of this filing

Updated Feb 12, 2026

Texas Pacific Land (TPL) SVP Micheal Dobbs Exercises Awards and Sells Shares

What Happened

Micheal W. Dobbs, Senior VP, Secretary and General Counsel of Texas Pacific Land (TPL), reported vesting/conversion of equity awards on Feb 10, 2026 and related share withholding to cover tax/exercise obligations. The filing shows 4,132 shares acquired as awards (PSUs/RSUs) and entries for conversion/exercise of 819 derivative shares. To satisfy tax/exercise-related obligations he surrendered a total of 2,211 shares (379 shares for $152,214 and 1,832 shares for $735,768), totaling $887,982. Some derivative/conversion entries are recorded at $0 value per Form 4 (see footnotes).

Key Details

Transaction date: February 10, 2026; Form filed February 12, 2026.
Principal transactions reported:
- Exercise/conversion of derivative (code M): 819 shares (acquired) and a separate 819-share derivative entry (disposed at $0).
- Grant/award (code A): 4,132 shares issued (PSUs/RSUs converting to common stock).
- Tax/exercise payment (code F): 379 shares surrendered for $152,214 and 1,832 shares surrendered for $735,768 (total $887,982).
Shares owned after the reported transactions: not stated in the filing.
Notable footnotes: PSUs granted Feb 10, 2023 vested per performance (RTSR at 171% of target; FCF at 164% of target) and convert 1-for-1 to common stock; RSUs converted 1-for-1 and vested on Feb 10, 2026; some RSUs have scheduled future vesting dates. All share amounts reflect the 3-for-1 stock split effective Dec 22, 2025.
Filing timing: Reported Feb 12, 2026 (covers Feb 10 transactions) — within the typical 2-business-day reporting window.

Context

This filing primarily documents awards vesting and routine share surrender for tax withholding (code F), not an open-market sale or purchase. The PSUs vested based on performance and converted into shares; the surrendered shares appear to be a cashless method to satisfy tax/exercise liabilities, a common administrative action rather than an explicit signal of insider buying or selling intent.

Form 4

Period: 2026-02-10

Senior VP, Secretary and GC

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-10+819→ 4,998 total
Tax Payment
Common Stock
[F2]
2026-02-10$401.62/sh−379$152,214→ 4,619 total
Award
Common Stock
[F3][F4]
2026-02-10+4,132→ 8,751 total
Tax Payment
Common Stock
[F2]
2026-02-10$401.62/sh−1,832$735,768→ 6,919 total
Exercise/Conversion
Restricted Stock Units
[F5]
2026-02-10−819→ 0 total
→ Common Stock (819 underlying)

Holdings

Footnotes (7)

[F1]Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
[F2]Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
[F3]On February 10, 2023, the Reporting Person was granted performance share units ("PSUs"), the vesting of which was subject to the achievement of certain relative total shareholder return ("RTSR") and free cash flow per share ("FCF") performance criteria. The number of shares reported represents the number of PSUs that vested as a result of the achievement of such performance criteria at 171% of target for the RTSR PSUs and 164% of target for the FCF PSUs.
[F4]PSUs convert into common stock on a one-for-one basis.
[F5]Each RSU has a value equal to one share of common stock. All of the RSUs reported vested on February 10, 2026.
[F6]Each RSU has a value equal to one share of common stock. Of such RSUs, 456 vest on February 15 of each of 2026, 2027 and 2028.
[F7]Each RSU has a value equal to one share of common stock. Of such RSUs, 1,206 vest on February 13 of each of 2026 and 2027.

Signature

/s/ Micheal W. Dobbs|2026-02-12

1 file