Dobbs Micheal W. 4
4 · Texas Pacific Land Corp · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Texas Pacific Land (TPL) SVP Micheal Dobbs Receives RSUs; Withholds Shares
What Happened
Micheal W. Dobbs, Senior Vice President, Secretary and General Counsel of Texas Pacific Land (TPL), had restricted stock units (RSUs) convert into common stock on Feb 13 and Feb 15, 2026. On Feb 13, 1,206 RSUs vested and converted one‑for‑one into 1,206 shares; 534 of those shares were surrendered to the company for tax withholding (534 x $432.31 = $230,854), leaving 672 net shares added to his beneficial ownership. On Feb 15, 456 RSUs vested and converted into 456 shares; 202 were withheld for taxes (202 x $432.31 = $87,327), leaving 254 net shares. Combined net newly acquired common shares = 926. Separately, on Feb 15 Dobbs was granted 1,631 RSUs (future vesting).
Key Details
- Transaction dates: Feb 13, 2026 and Feb 15, 2026; Form 4 filed Feb 18, 2026 (appears timely).
- Conversion type: RSUs converted to common stock (derivative code M); withholding for tax liability coded F. RSUs convert one‑for‑one into common stock (footnote F1).
- Withheld shares/tax: 534 shares (Feb 13) + 202 shares (Feb 15) = 736 shares withheld at $432.31 per share; total cash value withheld = $318,181.
- Net shares added to ownership: 672 (Feb 13) + 254 (Feb 15) = 926 shares.
- New grant: 1,631 RSUs awarded on Feb 15, 2026 (footnote F5). Vesting schedules per filing: of the Feb 13 RSUs, 1,206 vested Feb 13, 2026 and 1,206 are scheduled to vest Feb 13, 2027 (F3). Of the Feb 15 RSUs, 456 vested Feb 15, 2026 and 456 vest on Feb 15 in 2027 and 2028 (F4). The new 1,631 RSUs vest across Feb 15 of 2027–2029 (F5).
- Footnotes: F2 confirms shares surrendered were used to satisfy tax withholding. Entries showing $0.00 reflect conversion of RSUs (derivative settlement), not open‑market sales.
Context
These transactions are routine RSU vesting and tax withholding (a cashless withholding), not open‑market sales or purchases. The withheld shares to cover taxes are common practice and do not necessarily indicate a change in the insider’s view of the company. The 1,631 RSU grant is a future compensation award and does not immediately increase common‑share holdings until those RSUs vest.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-13+1,206→ 8,125 total - Tax Payment
Common Stock
[F2]2026-02-13$432.31/sh−534$230,854→ 7,591 total - Exercise/Conversion
Common Stock
[F1]2026-02-15+456→ 8,047 total - Tax Payment
Common Stock
[F2]2026-02-15$432.31/sh−202$87,327→ 7,845 total - Exercise/Conversion
Restricted Stock Units
[F3]2026-02-13−1,206→ 1,206 total→ Common Stock (1,206 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-02-15−456→ 912 total→ Common Stock (456 underlying) - Award
Restricted Stock Units
[F5]2026-02-15+1,631→ 1,631 total→ Common Stock (1,631 underlying)
Footnotes (5)
- [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]Each RSU has a value equal to one share of common stock. Of such RSUs, 1,206 vested on February 13, 2026 and 1,206 vest on February 13, 2027.
- [F4]Each RSU has a value equal to one share of common stock. Of such RSUs, 456 vested on February 15, 2026 and 456 vest on February 15 of each of 2027 and 2028.
- [F5]Each RSU has a value equal to one share of common stock. Of such RSUs, 543 vest on February 15, 2027 and 544 vest on February 15 of each of 2028 and 2029.