Texas Pacific Execs Trade RSUs Ahead of Earnings: Buffington’s Moves Signal Routine Tax‑Planning, Not Warning Signs

Insider Activity Spotlight: Texas Pacific Land Corp.

Why the recent transaction matters On February 13, 2026, Chief Accounting Officer Stephanie Buffington converted 864 restricted stock units (RSUs) into common shares and immediately sold 383 of those shares, followed by a purchase of 255 shares on February 15 and a sale of 113 shares the same day. The net effect is a modest increase in her post‑transaction holdings—from 3,363 to 3,741 shares—while she also sold a combined 496 shares. The trades occurred when the stock was trading near $441, a level only slightly above the 52‑week high, and just before the company’s earnings announcement on February 18. With a 52‑week range of $269–$488, the stock is currently near the upper end of its recent volatility corridor, which can amplify the impact of insider moves.

Signal for investors Buffington’s activity aligns with a broader pattern of balanced buying and selling among the top executives. President & CEO Tyler Glover, CFO Steddum, and Senior VP Dobbs all executed seven trades each in the same two‑day window, indicating a routine “wash‑sale” cycle to manage tax obligations and liquidity. The net effect is a slight dilution of insider ownership (total shares held by the four executives fell from 119,000 to 115,000, a 3 % drop). For shareholders, the modest insider selling does not signal a lack of confidence; instead, it reflects routine RSU vesting and tax‑related transactions. However, the timing—just before earnings—may suggest executives are positioning themselves for the upcoming guidance, which analysts expect to show a modest EPS uptick.

What this could mean for Texas Pacific’s future Texas Pacific’s market cap of $29.8 billion and a P/E of 62.49 places it on the higher end of the energy sector. The company’s revenue mix—land sales, oil & gas royalties, grazing leases, and interest—has remained steady, and the upcoming earnings call is expected to confirm a slight improvement in EPS. If the company meets or beats expectations, the insider activity could be viewed as a positive signal: executives are comfortable holding shares and are actively managing their RSU portfolios in line with company performance. Conversely, if earnings miss, the pre‑earnings selling could be interpreted as a warning sign of executive confidence erosion.

Buffington’s transaction profile Across the past year, Buffington has executed a mix of 245‑share sales and 513‑share purchases, with several large RSU vestings (e.g., 1,728 shares in September 2025). Her net position has hovered around 3,600–3,900 shares, indicating a preference for steady, long‑term ownership rather than speculative short‑term trading. The recent February trades are consistent with her historical pattern: modest purchases following RSU vesting, followed by tax‑related sales. Unlike the CFO and CEO, who occasionally executed large block trades, Buffington’s activity remains comparatively conservative, reflecting her role’s focus on accounting integrity and fiscal prudence.

Bottom line for investors The insider activity at Texas Pacific is largely routine and aligns with standard RSU vesting cycles. The slight net increase in Buffington’s holdings suggests confidence in the company’s near‑term outlook, while the overall dilution is modest. Investors should view the February trades as procedural rather than prescriptive signals, and focus on the upcoming earnings report for a clearer indication of the company’s trajectory.