Form Type: 4

SEC EDGAR Link
Acccession Number:0001140361-20-005508
Date:2020-03-09
Issuer: TEXAS PACIFIC LAND TRUST (TPL)
Original Submission Date:

Reporting Person:

TESSLER ALLAN R
2500 MOOSE-WILSON ROAD
WILSON, WY 83014

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
SUB-SHARE CERTIFICATES OF PROPRIETARY INTEREST 2020-03-09 P 400 a $498.00 1,700 indirect f1,f3,f4
SUB-SHARE CERTIFICATES OF PROPRIETARY INTEREST 0 $0.00 10,830 indirect f4
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 the issuer's sub-share certificates of proprietary interest, par value $.03-1/3 (the "shares") are held by tessler family lp. the general partner of tessler family lp is apres vous, llc, a wyoming limited liability company ("apres llc"). andrea tessler, karla tessler and christopher tessler, the children of mr. tessler, are the members of apres llc. andrea tessler and karla tessler are the managers of apres llc. mr. tessler is a partner and controls tessler family lp. tessler family lp and mr. tessler may be deemed to share voting power and dispositive power with respect to the such shares. mr. tessler disclaims beneficial ownership of the 1,700 shares held by tessler family lp for purposes of section 16 of the securities exchange act of 1934 (the "act"), except for his pecuniary interest therein.
f2 the shares are held by art-fgt family partners limited, a wyoming limited partnership ("art-fgt lp"). the general partner of art-fgt lp is tessler fmc, llc, a wyoming limited liability company ("tessler llc"). mr. tessler and his spouse, frances g. tessler, are the members of tessler llc. andrea tessler and karla tessler, daughters of mr. tessler, are the managers of tessler llc. mr. tessler is a partner and controls art-fgt lp. art-fgt lp and mr. tessler may be deemed to share voting power and dispositive power with respect to such shares. mr. tessler disclaims beneficial ownership of the 10,830 shares held by art-fgt lp for purposes of section 16 of the act, except for his pecuniary interest therein. no transaction is reported. the amount of shares held indirectly through art-fgt lp is included for informational purposes only.
f3 softvest advisors llc, a delaware limited liability company ("softvest advisors"), horizon kinetics llc, a delaware limited liability company ("horizon"), art-fgt lp and tessler family limited partnership, a wyoming limited partnership ("tessler family lp") have entered into a cooperation agreement, dated may 15, 2019 (the "cooperation agreement"). as a result of the cooperation agreement, softvest advisors, softvest l.p., a delaware limited partnership ("softvest lp"), eric l. oliver ("mr. oliver"), art-fgt lp, tessler family lp, mr. tessler and horizon may be deemed to have formed a "group" pursuant to rule 13d-5(b)(1) promulgated under the act.
f4 each of the parties to the cooperation agreement may also be deemed to share voting power and dispositive power with respect to each other party's shares as a result of the covenants and restrictions set forth in the cooperation agreement. therefore, each of the parties to the cooperation agreement may be deemed to beneficially own all shares beneficially owned by the other parties to the cooperation agreement, but each party to the cooperation agreement disclaims any beneficial ownership or pecuniary interest with respect to the shares held by the other parties. the shares in this form 4 do not include the shares owned by softvest lp, softvest advisors, mr. oliver and horizon.

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