Clum Brent W. 4

What Happened

• Brent W. Clum, Co‑Chief Executive Officer and Chief Financial Officer of TXO Partners, L.P. and a director of TXO GP, LLC, sold 27,234 units on April 1, 2026. The units were sold at $12.38 each for a total of $337,157. This was a sale (not a purchase) and was executed to satisfy tax withholding obligations related to equity vesting.

Key Details

• Transaction date and price: April 1, 2026 — 27,234 units at $12.38 per unit; total proceeds $337,157.
• Transaction type/code: Sale (S); described as open market or private sale.
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnote: The sale represents units sold to satisfy tax withholding on vested equity, was required by the issuer's "sell-to-cover" policy, and was executed under a Rule 10b5-1 trading arrangement (preplanned). This was not a discretionary sale by the reporting person.
• Timeliness: Filing shows the report and transaction date as April 1, 2026 (no late filing indicated).

Context

• Sell-to-cover transactions to satisfy tax withholding are routine and mandated by company policy; they do not necessarily reflect the insider’s view on the company’s prospects. A 10b5-1 plan indicates the sale was prearranged rather than an ad hoc decision by the insider.