Current Report Filing (8-k)
November 18 2022 - 5:06PM
Edgar (US Regulatory)
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2022-11-16
2022-11-16
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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
November 16, 2022
Texas
Pacific Land Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware |
001-39804 |
75-0279735 |
(State or Other
Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer
Identification Number) |
1700 Pacific Avenue, Suite 2900, Dallas, Texas 75201
(Address of Principal Executive Offices, including Zip Code)
Registrant’s
telephone number, including area code: 214-969-5530
Not Applicable
(Former Name or Former Address, if Changed Since
Last Report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class |
Trading
Symbol(s) |
Name
of each exchange on which registered |
Common Stock (par value $.01 per share)
|
TPL |
New York Stock Exchange |
Item 5.07 |
Submission of Matters to a Vote of Security Holders.
|
At the 2022 annual meeting
of stockholders (the “Annual Meeting”) of Texas Pacific Land Corporation (the “Company”) that was convened on
November 16, 2022, the stockholders of the Company voted on ten proposals.
The Annual Meeting was adjourned
with respect to Proposal 4, a proposal to approve an amendment to the Company’s Certificate of Incorporation increasing the authorized
shares of common stock from 7,756,156 shares to 46,536,936 shares, in order to provide the Company with time to resolve its disagreement
with certain stockholders over their voting commitments pursuant to their stockholders’ agreement with the Company. The Annual Meeting
will be reconvened on February 14, 2023 at 10:30 a.m. Central time at the Company’s offices located at 1700 Pacific Avenue, Suite
2900, Dallas, Texas 75201.
Each stockholder of record
is entitled to one vote per share of common stock. On September 22, 2022, the record date for the Annual Meeting (the “Record Date”),
there were 7,710,932 issued and outstanding shares of common stock. Present at the Annual Meeting in person or by proxy were holders of
6,633,537 shares of common stock or 86.02% of the voting power entitled to vote at the Annual Meeting as of the Record Date, constituting
a quorum.
The Inspector of Election
issued its final report, which certified final voting results with respect to all proposals voted upon at the Annual Meeting other than
Proposal 4. Set forth below are the final voting results, as provided by the Inspector of Election:
Proposal 1:
To elect four (4) Class II members of the Company’s
Board of Directors to serve until the 2025 Annual Meeting of Stockholders (or until successors are elected or directors resign or are
removed).
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
Rhys J. Best | |
| 4,692,006 | | |
| 873,898 | | |
| 96,477 | | |
| 971,156 | |
Donald G. Cook | |
| 3,519,576 | | |
| 2,084,963 | | |
| 57,842 | | |
| 971,156 | |
Donna E. Epps | |
| 4,537,444 | | |
| 1,064,970 | | |
| 59,967 | | |
| 971,156 | |
Eric L. Oliver | |
| 5,332,389 | | |
| 292,114 | | |
| 37,878 | | |
| 971,156 | |
Proposal 2:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To approve, by advisory non-binding vote, executive
compensation. | |
| 3,805,062 | | |
| 1,519,062 | | |
| 338,261 | | |
| 971,156 | |
Proposal 3:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To approve an amendment to the Company’s Amended and Restated Certificate
of Incorporation providing for the declassification of the Board. | |
| 5,145,043 | | |
| 189,237 | | |
| 328,101 | | |
| 971,156 | |
Proposal 5:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To ratify the appointment of Deloitte & Touche LLP as our independent
auditors for the fiscal year ending December 31, 2022. | |
| 6,556,453 | | |
| 45,321 | | |
| 31,763 | | |
| 0 | |
Proposal 6:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To consider a non-binding stockholder proposal regarding the stockholders’
right to call for a special meeting. | |
| 1,722,246 | | |
| 3,908,265 | | |
| 31,870 | | |
| 971,156 | |
Proposal 7:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To consider a non-binding stockholder proposal regarding hiring an investment
banker in connection with the evaluation of a potential spinoff. | |
| 1,179,368 | | |
| 4,394,928 | | |
| 88,085 | | |
| 971,156 | |
Proposal 8:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To consider a non-binding stockholder proposal regarding the release of
all remaining obligations of the stockholders’ agreement between the Company and certain stockholders. | |
| 1,650,305 | | |
| 3,959,493 | | |
| 52,583 | | |
| 971,156 | |
Proposal 9:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To consider a non-binding stockholder proposal regarding the stockholders’
right to act by written consent. | |
| 2,953,574 | | |
| 2,637,404 | | |
| 71,403 | | |
| 971,156 | |
Proposal 10:
| |
Votes For | | |
Votes Against | | |
Abstentions | | |
Broker Non-Votes | |
To consider a non-binding stockholder proposal regarding director election
and resignation policy. | |
| 1,613,923 | | |
| 3,729,448 | | |
| 319,010 | | |
| 971,156 | |
No other matters were properly presented for consideration or stockholder
action at the Annual Meeting.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Corporation has duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
|
TEXAS PACIFIC LAND CORPORATION |
|
|
Date: November 18, 2022 |
By: |
/s/ Micheal W. Dobbs |
|
|
Micheal W. Dobbs |
|
|
SVP and General Counsel |
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