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FORT WORTH, Texas—Brent W. Clum, President, Business Operations, and Chief Financial Officer of TXO Partners, L.P. (NASDAQ:TXO), a $759 million market cap energy company paying a notable 12.5% dividend yield, recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Clum sold 7,702 common units on January 31, 2025, at a price of $18.59 per unit, totaling $143,180.
The transaction was part of a pre-arranged trading plan under Rule 10b5-1 and was conducted to cover tax obligations related to the vesting of certain equity awards. Following the sale, Clum retains ownership of 470,337 common units.
Additionally, Clum acquired 52,770 phantom units and 60,200 performance units, both at no cost. These units will vest in installments beginning in January 2026. The phantom and performance units are equivalent to common units of the issuer and will be settled in common units upon vesting.
In other recent news, TXO Partners, a crude petroleum and natural gas company, announced that Gary D. Simpson, the President of Production and Development, has set up a prearranged trading plan for selling company stock. This move is in line with Rule 10b5-1 of the Securities Exchange Act of 1934, which allows company insiders to arrange a trading schedule for selling stocks when they do not have access to material non-public information. The trading plan is designed to facilitate the sale of common units of the Partnership to cover tax liabilities related to the vesting of phantom units after February 6, 2025. The exact number of common units to be sold is not determinable at this time as it depends on the vesting conditions being met and the market price of TXO’s common units at the time of the sale. This development underscores TXO Partners’ commitment to transparency and adherence to legal frameworks governing insider trading. The trading plan will remain in effect until the final vesting or forfeiture of the phantom units. The filing for this trading plan was made public recently as part of the company’s latest 8-K filing with the Securities and Exchange Commission.
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