TPLTexas Pacific Land Corporation
Deals with insiders in the proxy filed 2026-09-25
Deals between TPL and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement.
New this year
Paragraphs about a deal, a person or a relative with nothing like them in the proxy filed 2025-09-26.
Transactions with Related Persons“In December 2025, the Company made a minority investment in Bolt, a privately held company focused on the development of large-scale data center and energy infrastructure projects. The Company invested $50.0 million in exchange for shares of Series A preferred stock of Bolt, resulting in a minority ownership interest. Prior to the closing of the Company’s investment in Bolt, the Company was informed that HKAM, a wholly owned subsidiary of HKHC, intended to make a significant equity investment in Bolt through various affiliated funds. Murray Stahl, who was a director of the Company at the time, was also the Chief Executive Officer, Chairman and Chief Investment Officer of HKAM at the time. The Company and the Audit Committee reviewed HKAM’s proposed investment in Bolt and, along with HKAM, undertook”
Read it in the proxy ↗
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT“steps to alleviate any potential conflicts of interest that could arise from such investment. Following the Company’s investment, HKAM invested approximately $47.5 million in Bolt.”
Read it in the proxy ↗
No longer reported 2 paragraphs of the proxy filed 2025-09-26 with nothing like them this year
Transactions with Related Persons“As discussed above, on August 27, 2024, the Company announced the acquisition of oil and gas mineral interests in 4,106 total net royalty acres located in Culberson County, Texas for a purchase price of $120.3 million in cash, net of post- closing adjustments. The Mineral Interest Acquisitions were completed in conjunction with Brigham Royalties Fund I Holdco, L.L.C., a subsidiary of Brigham Royalties. Robert Roosa, a member of the Company’s Board, is a partner in, and serves as the Chief Executive Officer of, Brigham Royalties. Brigham Royalties originally identified the opportunity and, because of the size and concentration, invited the Company to participate. Following the execution of the purchase and sale agreements (totaling 7,416 net royalty acres) related to the Mineral Interest Acquisitions, a 55.4% interest in each was assigned to a subsidiary of the Company.”
Read it in last year's proxy ↗
Transactions with Related Persons“Each party paid a pro-rata share of the purchase price and closing costs. The Company directly paid an aggregate of approximately $1.1 million in commissions to six Brigham Royalties employees, which was equal to the bonuses those employees would have received with respect to the Mineral Interest Acquisitions had they been completed by Brigham Royalties. Those fees were significantly less than commissions the Company would have paid to other third parties for similar services. The Company performed its own diligence and valuation, and the Mineral Interest Acquisitions were approved by the Audit Committee and full Board with Mr. Roosa abstaining. The Company did not pay any fees or commissions to Brigham Royalties or Mr. Roosa in connection with, and the Company and Brigham Royalties have no further relationship with respect to, the Mineral Interest Acquisitions.”
Read it in last year's proxy ↗
The whole section
4 paragraphs quoted as filed
Transactions with Related Persons“TPL generally does not engage in transactions in which TPL’s executive officers or directors (or any of their immediate family members) or any of TPL’s stockholders owning 5% or more of TPL’s outstanding shares of Common Stock (or any of their immediate family members) have a material interest. Should a proposed transaction or series of similar transactions involve any such persons in an amount that exceeds $120,000 in any fiscal year, it will be subject to review and approval by the Audit Committee in accordance with its written policy and procedures adopted by the Board. Transactions entered into that were not related person transactions at the time that they were consummated, but that later become related person transactions during the course of the transaction, will also be subject to review by the Audit Committee in accordance with a written policy adopted by the Board.”
Read it in the proxy ↗
Transactions with Related Persons“In December 2025, the Company made a minority investment in Bolt, a privately held company focused on the development of large-scale data center and energy infrastructure projects. The Company invested $50.0 million in exchange for shares of Series A preferred stock of Bolt, resulting in a minority ownership interest. Prior to the closing of the Company’s investment in Bolt, the Company was informed that HKAM, a wholly owned subsidiary of HKHC, intended to make a significant equity investment in Bolt through various affiliated funds. Murray Stahl, who was a director of the Company at the time, was also the Chief Executive Officer, Chairman and Chief Investment Officer of HKAM at the time. The Company and the Audit Committee reviewed HKAM’s proposed investment in Bolt and, along with HKAM, undertook”
Read it in the proxy ↗
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT“steps to alleviate any potential conflicts of interest that could arise from such investment. Following the Company’s investment, HKAM invested approximately $47.5 million in Bolt.”
Read it in the proxy ↗
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT“Other than as discussed above, there have been no transactions between the Company and a related person since the beginning of the Last Fiscal Year that would be reportable under SEC rules or regulations.”
Read it in the proxy ↗
Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗