Simpson Gary D. 4

What Happened

Gary D. Simpson, Co‑Chief Executive Officer and a director of TXO GP, LLC (the general partner of TXO Partners, L.P.), disposed of 27,234 units on 2026-04-01 at $12.38 per unit, generating proceeds of $337,157. The filing reports this as a sale (Form 4 transaction code S).

Key Details

• Transaction date and price: 2026-04-01 — 27,234 units sold at $12.38 each. Total proceeds reported: $337,157.
• Transaction type: Sale (S); footnote F1 indicates the sale was to satisfy tax withholding obligations related to equity vesting.
• Rule 10b5-1: The sale was executed under a pre‑arranged Rule 10b5‑1 trading arrangement.
• Mandated sell-to-cover: The issuer’s policy required a "sell to cover" to satisfy withholding; the reporting person did not make a discretionary sale decision.
• Shares owned after transaction: Not disclosed in the provided summary of the filing.
• Filing timeliness: Reported and filed on 2026-04-01 (no late filing indicated).

Context

Sell-to-cover transactions are routine transfers to cover tax obligations when equity awards vest and, when done under a 10b5‑1 plan, are pre‑scheduled rather than opportunistic trades. Such sales do not necessarily indicate the insider’s view of the company’s prospects. Purchases or open-market acquisitions generally carry more weight for signaling insider confidence.