STEDDUM CHRIS 4

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

AI-generated summary of this filing

Updated Feb 12, 2026

Texas Pacific Land (TPL) CFO Chris Steddum Exercises, Sells Shares

What Happened

Chris Steddum, CFO of Texas Pacific Land Corporation (TPL), had performance/restricted awards and derivative conversions vest/convert on Feb 10, 2026 and received 6,393 shares (awards/RSUs/PSUs). To satisfy tax withholding, he surrendered 3,642 shares at $401.62 per share (615 + 3,027 shares), generating about $1.46 million in proceeds. The filing shows two derivative/option conversion entries (1,269 shares) related to the conversions.

Key Details

Transaction date: February 10, 2026; Form 4 filed Feb 12, 2026 (filed within the usual 2-business-day window).
Awards/vesting: 6,393 shares granted/vested (PSUs/RSUs converted into common stock on a 1:1 basis per footnotes).
Tax withholding: 3,642 shares surrendered at $401.62/share — proceeds reported as $246,996 and $1,215,704 (total ≈ $1.46M).
Derivative activity: 1,269-share conversions/exercises reported (M code) related to award/derivative conversion.
Shares owned after transaction: not specified in the provided filing summary.
Notable footnotes: PSUs vested based on performance (RTSR at 171% and FCF at 164% of target); some RSUs have staggered future vesting; a clerical correction to prior RSU counts was made; all share amounts reflect the 3-for-1 stock split effective Dec 22, 2025.

Context

This was not an open-market sale to raise cash to an outside buyer but stock surrender to the issuer to cover tax withholding (routine for exercised/vested awards). PSUs and RSUs converted one-for-one to common stock; some vested as a result of above-target performance metrics. Routine tax withholding or share-withholding to cover exercise/vesting obligations is common and doesn’t necessarily indicate a change in insider confidence.

Form 4

Period: 2026-02-10

Chief Financial Officer

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-10+1,269→ 11,775 total
Tax Payment
Common Stock
[F2]
2026-02-10$401.62/sh−615$246,996→ 11,160 total
Award
Common Stock
[F3][F4]
2026-02-10+6,393→ 17,553 total
Tax Payment
Common Stock
[F2]
2026-02-10$401.62/sh−3,027$1,215,704→ 14,526 total
Exercise/Conversion
Restricted Stock Units
[F5]
2026-02-10−1,269→ 0 total
→ Common Stock (1,269 underlying)

Holdings

Footnotes (8)

[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 reported RSUs vested on February 10, 2026.
[F6]Each RSU has a value equal to one share of common stock. Of such RSUs, 2,079 will vest on February 13 of each of 2026 and 2027.
[F7]The number of RSUs reported reflects the correction of a clerical error in the number of RSUs reported in a previous Form 4 filed on November 15, 2024, which calculation error was also reflected on Forms 4 subsequently filed.
[F8]Each RSU has a value equal to one share of common stock. Of such RSUs, 795 will vest on February 15 of each of 2026, 2027 and 2028.

Signature

/s/ Micheal W. Dobbs, attorney-in-fact|2026-02-12

1 file