GLOVER TYLER 4

What Happened

• Tyler Glover, President & CEO and Director of Texas Pacific Land (TPL), had performance share units (PSUs) and restricted stock units (RSUs) convert/vest on Feb 10, 2026, resulting in the acquisition/conversion of 15,991 shares of common stock. To satisfy tax withholding obligations, 6,780 of those shares were surrendered to the company (treated as dispositions) for aggregate value of $2,722,984 (1,137 shares at $401.62 = $456,642 and 5,643 shares at $401.62 = $2,266,342). There is an additional derivative line showing 2,664 shares as a conversion/disposition with $0 proceeds (related to the conversion mechanics).
• Net increase in Glover’s holdings from these transactions = 6,547 shares (15,991 acquired less 9,444 disposed/conveyed as shown), after accounting for the surrendered shares and the derivative conversion/disposition entries.

Key Details

• Transaction date: February 10, 2026; Form filed Feb 12, 2026 (timely — within the two-business-day Form 4 window).
• Reported items: 13,327 shares reported as a grant/award (RSUs/PSUs), plus two conversion/exercise entries of 2,664 shares each (one shown as acquired, one shown as disposed/derivative).
• Tax withholding: 6,780 shares surrendered to the issuer to cover tax obligations (1,137 and 5,643 share entries), totaling ~$2.72 million at $401.62/share.
• Footnotes: PSUs granted Feb 10, 2023 vested based on performance (RTSR at 171% of target, FCF at 164% of target) and convert 1:1 into common stock; RSUs convert 1:1 and some RSUs have staggered vesting per the filing. All share amounts reflect the 3-for-1 stock split effective Dec 22, 2025.
• Shares owned after transaction: not specified in the provided filing details.

Context

• This was a vesting/conversion of equity awards (PSUs/RSUs), not an open-market purchase or voluntary sale. The surrender of shares to cover taxes is a common net-settlement/cashless procedure and should be viewed as fulfilling withholding obligations rather than a market sale motivated by cash needs.
• For retail investors, awards/vests can indicate executive compensation realization; purchases are generally more informative about insider conviction than routine vesting events.