Companies Texas Pacific Land
Texas Pacific Land (TPL): executive pay, fiscal 2025
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CEO pay, last three years
- $6,108,717FY2023
- $7,413,075FY2024
- $7,072,516FY2025
CEO total pay was $7,072,516 in fiscal 2025, down from $7,413,075 in fiscal 2024.
FY2025: salary $850,000 · bonus $0 · stock awards $5,026,856 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Tyler Glover | $850,000 | $0 | $5,026,856 | $0 | $1,150,050 | $10,210 | $35,400 | $7,072,516 |
| President and Chief Executive Officer | ||||||||
| Chris Steddum | 545,000 | 0 | 2,459,499 | 0 | 670,350 | 6,023 | 21,000 | 3,701,872 |
| Chief Financial Officer | ||||||||
| Micheal Dobbs | 455,000 | 0 | 1,409,746 | 0 | 447,720 | 10,719 | 20,763 | 2,343,948 |
| Senior Vice President, Secretary and General Counsel | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Tyler Glover | $7,072,516 | $7,413,075 | $6,108,717 | ↓ −340,559 |
| Chris Steddum | 3,701,872 | 4,049,889 | 3,033,387 | ↓ −348,017 |
| Micheal Dobbs | 2,343,948 | 2,617,118 | 2,114,628 | ↓ −273,170 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
TPL's compensation program is designed to recruit and retain an executive team and reward performance in achieving the goal of creating stockholder value. The program aligns executives' financial interests with stockholders by tying a substantial portion of compensation to company performance (both stock price and financial metrics) and incorporating long-term vesting periods to ensure management continuity.
| CEO STI target (% of salary) | 110% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Micheal Dobbs | PSU | 2025-02-15 | 171 | 684 | — | 1,368 | $436,597 |
| Micheal Dobbs | RSU | 2025-02-15 | — | — | 1,368 | — | 625,819 |
| Micheal Dobbs | PSU | 2025-02-15 | 171 | 684 | — | 1,368 | 347,330 |
| Tyler Glover | RSU | 2025-02-15 | — | — | 4,878 | — | 2,231,538 |
| Tyler Glover | PSU | 2025-02-15 | 610 | 2,439 | — | 4,878 | 1,556,814 |
| Tyler Glover | PSU | 2025-02-15 | 610 | 2,439 | — | 4,878 | 1,238,504 |
| Chris Steddum | PSU | 2025-02-15 | 299 | 1,194 | — | 2,388 | 606,303 |
| Chris Steddum | PSU | 2025-02-15 | 299 | 1,194 | — | 2,388 | 762,130 |
| Chris Steddum | RSU | 2025-02-15 | — | — | 2,385 | — | 1,091,066 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Micheal Dobbs | $625,819 | $783,927 | $0 | 55.6% |
| Tyler Glover | 2,231,538 | 2,795,318 | 0 | 55.6% |
| Chris Steddum | 1,091,066 | 1,368,433 | 0 | 55.6% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Micheal Dobbs | PSU | 3,726 | — | $1,070,182 |
| Micheal Dobbs | RSU | 4,599 | — | 1,320,925 |
| Chris Steddum | PSU | 6,216 | — | 1,785,360 |
| Chris Steddum | RSU | 7,812 | — | 2,243,763 |
| Tyler Glover | PSU | 12,123 | — | 3,481,968 |
| Tyler Glover | RSU | 15,156 | — | 4,353,106 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Rhys J. BestIndependent · Board Chair | $235,000 | $145,987 | — | — | — | $380,987 |
| Barbara J. DuganierIndependent · Audit · Compensation · Strategic Acquisitions | 145,000 | 145,987 | — | — | — | 290,987 |
| Donna E. EppsIndependent · Audit (Chair) · Nominating and Corporate Governance | 140,000 | 145,987 | — | — | — | 285,987 |
| Donald G. CookIndependent · Audit · Compensation · Nominating and Corporate Governance · Partial-year service | 135,000 | 145,987 | — | — | — | 280,987 |
| Robert RoosaIndependent · Audit · Compensation · Strategic Acquisitions | 135,000 | 145,987 | — | — | — | 280,987 |
| Karl F. KurzIndependent · Compensation · Strategic Acquisitions | 130,000 | 145,987 | — | — | — | 275,987 |
| Murray StahlIndependent | 125,000 | 145,987 | — | — | — | 270,987 |
| Marguerite Woung-ChapmanIndependent · Audit · Nominating and Corporate Governance | 125,000 | 145,987 | — | — | — | 270,987 |
| Eric L. OliverIndependent · Not standing for re-election | 97,624 | 145,987 | — | — | — | 243,611 |
Board fee structure and ownership guideline
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $145,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,267,624 |
| Equity awards (grant-date value) | $1,313,883 |
| All other compensation | $0 |
| Total cost of the board | $2,581,507 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Texas Pacific Land as a peer
Companies that benchmark against TPL
1 company names TPL as a compensation peer
- WATSCO INCWSOFY2025
Each company listed discloses TPL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named TPL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
Of the companies Texas Pacific Land names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Texas Pacific Land.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Ovintiv, Inc. | 2025 | Brendan McCracken | $1,185,000 | $9,900,005 | $0 | $2,136,750 | $13,693,140 |
| 2 | Permian Resources Corp | 2025 | William Hickey III | 0 | 11,432,842 | 0 | 0 | 11,432,842 |
| 3 | Northern Oil & Gas, Inc. | 2025 | Michael O'Grady | 1,000,000 | 6,150,111 | 0 | 2,730,000 | 10,059,154 |
| 4 | Matador Resources Co | 2025 | Joseph Foran | 1,800,000 | 4,222,400 | 0 | 3,726,000 | 9,775,611 |
| 5 | DT Midstream, Inc. | 2025 | David Slater | 852,203 | 6,282,371 | 0 | 1,839,938 | 9,328,071 |
| 6 | Aris Water Solutions, Inc. | 2024 | Amanda Brock | 732,308 | 6,432,567 | 0 | 2,047,576 | 9,233,151 |
| 7 | Civitas Resources, Inc. | 2024 | M. Christopher Doyle | 1,431,150 | 6,933,919 | 0 | 0 | 8,385,769 |
| 8 | Range Resources Corp | 2025 | Dennis Degner | 932,500 | 6,143,877 | 0 | 1,128,000 | 8,375,421 |
| 9 | Texas Pacific Land | 2025 | Tyler Glover | 850,000 | 5,026,856 | 0 | 1,150,050 | 7,072,516 |
| 10 | Kinetik Holdings, Inc. | 2025 | Jamie Welch | 276,923 | 5,140,841 | 0 | 487,500 | 6,156,243 |
| 11 | Select Water Solutions, Inc. | 2025 | John Schmitz | 800,000 | 3,245,526 | 0 | 681,352 | 4,876,029 |
| 12 | SM Energy Co | 2025 | Elizabeth McDonald | 576,369 | 2,299,995 | 0 | 536,024 | 4,475,172 |
| — | Sitio Royalties Corp | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Texas Pacific Land | 123% | PSU 50 · RSU 50 | Yes — Relative Total Stockholder Return (RTSR) against the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) Index | Meridian Compensation Partners |
| Aris Water Solutions, Inc. | not disclosed | not disclosed | not disclosed | Compensation Advisory Partners, LLC and Pay Governance, LLC |
| Civitas Resources, Inc. | not disclosed | PSU 70 · RSU 30 | Yes — Absolute TSR | Meridian Compensation Partners, LLC |
| DT Midstream, Inc. | 152.62% | PSU 70 · RSU 30 | No | Meridian Compensation Partners LLC |
| Kinetik Holdings, Inc. | 65% | PSU 50 · RSU 50 | Yes — Annualized TSR | Meridian Compensation Partners |
| Matador Resources Co | not disclosed | Cash LTI 50 · PSU 50 | No | Meridian Compensation Partners, LLC |
| Northern Oil & Gas, Inc. | not disclosed | PSU 65 · RSU 35 | No | Meridian Compensation Partners, LLC |
| Ovintiv, Inc. | 140% | RSU 50 · PSU 50 | Yes — Relative TSR | FW Cook |
| Permian Resources Corp | 150% | PSU 100 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
| Range Resources Corp | not disclosed | PSU 60 · RSU 40 | Yes — Total Stockholder Return (TSR) | Meridian Compensation Partners, LLC |
| Select Water Solutions, Inc. | 88.1% | RSU 50 · PSU 50 | Yes — Relative Total Shareholder Return (TSR) | Meridian Compensation Partners |
| Sitio Royalties Corp | not disclosed | not disclosed | not disclosed | not disclosed |
| SM Energy Co | 93% | PSU 60 · RSU 40 | Yes — Absolute TSR | Frederic W. Cook & Co., Inc. |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-11-06 | 12,114,623 | 1,880,392 | 158,547 | 86.56% | Passed |
| 2024 | 2024-11-08 | 12,512,329 | 1,694,784 | 146,468 | 87.17% | Passed |
| 2023 | 2023-11-10 | 3,735,523 | 841,685 | 56,099 | 81.61% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2025 | 2025-11-06 | 86.56%a |
| 2024 | 2024-11-08 | 87.17%b |
| 2023 | 2023-11-10 | 81.61%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “If your shares are represented at the Annual Meeting but you "ABSTAIN" from voting on Proposal 2, the abstention will have the same effect as a vote against the proposal.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes (if any) will have no effect on the outcome of this proposal.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 34 : 1 |
|---|---|
| CEO total compensation | $7,072,516 |
| Median employee compensation | $210,079 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (51 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Tyler Glover. DEF 14A, filed 2026-09-25. Section “Summary Compensation Table” · page 85. As printed: 7,072,516. View filing ↗
- Section 01, Chris Steddum. DEF 14A, filed 2026-09-25. Section “Summary Compensation Table”. As printed: 3,701,872. View filing ↗
- Section 01, Micheal Dobbs. DEF 14A, filed 2026-09-25. Section “Summary Compensation Table”. As printed: 2,343,948. View filing ↗
- Section 03, Micheal Dobbs PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Micheal Dobbs RSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Micheal Dobbs PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Tyler Glover RSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Tyler Glover PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Tyler Glover PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Steddum PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Steddum PSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Steddum RSU. DEF 14A, filed 2026-09-25. Section “Grants Of Plan Based Awards During 2025” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-09-25. Section “CEO Pay Ratio”. As printed: 34 : 1. View filing ↗
- Section 08, Rhys J. Best. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 380,987. View filing ↗
- Section 08, Barbara J. Duganier. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 290,987. View filing ↗
- Section 08, Donna E. Epps. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 285,987. View filing ↗
- Section 08, Donald G. Cook. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 280,987. View filing ↗
- Section 08, Robert Roosa. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 280,987. View filing ↗
- Section 08, Karl F. Kurz. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 275,987. View filing ↗
- Section 08, Murray Stahl. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 270,987. View filing ↗
- Section 08, Marguerite Woung-Chapman. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 270,987. View filing ↗
- Section 08, Eric L. Oliver. DEF 14A, filed 2026-09-25. Section “Director Compensation”. As printed: 243,611. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-11-12. Item 5.07 · say-on-pay result. As reported: 86.56% (votes for as printed: 12,114,623). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-11-12. Item 5.07 · say-on-pay result. As reported: 87.17% (votes for as printed: 12,512,329). View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-11-13. Item 5.07 · say-on-pay result. As reported: 81.61% (votes for as printed: 3,735,523). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,267,624 + equity 1,313,883 + all other 0 = 2,581,507, summed across the director compensation table rows.
- Ovintiv, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Ovintiv, Inc.'s own proxy. As printed: 13,693,140. View filing ↗
- Permian Resources Corp, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Permian Resources Corp's own proxy. As printed: 11,432,842. View filing ↗
- Northern Oil & Gas, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Northern Oil & Gas, Inc.'s own proxy. As printed: 10,059,154. View filing ↗
- Matador Resources Co, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Matador Resources Co's own proxy. As printed: 9,775,611. View filing ↗
- DT Midstream, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in DT Midstream, Inc.'s own proxy. As printed: 9,328,071. View filing ↗
- Aris Water Solutions, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-09. CEO total compensation as printed in Aris Water Solutions, Inc.'s own proxy. As printed: 9,233,151. View filing ↗
- Civitas Resources, Inc., Section 10b CEO total. DEF 14A, filed 2025-04-21. CEO total compensation as printed in Civitas Resources, Inc.'s own proxy. As printed: 8,385,769. View filing ↗
- Range Resources Corp, Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Range Resources Corp's own proxy. As printed: 8,375,421. View filing ↗
- Texas Pacific Land (subject), Section 10b CEO total. DEF 14A, filed 2026-09-25. CEO total compensation as printed in Texas Pacific Land's own proxy. As printed: 7,072,516. View filing ↗
- Kinetik Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Kinetik Holdings, Inc.'s own proxy. As printed: 6,156,243. View filing ↗
- Select Water Solutions, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Select Water Solutions, Inc.'s own proxy. As printed: 4,876,029. View filing ↗
- SM Energy Co, Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in SM Energy Co's own proxy. As printed: 4,475,172. View filing ↗
- Section 10a, Matador Resources Co reciprocity. DEF 14A. Matador Resources Co's most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Kinetik Holdings, Inc. reciprocity. DEF 14A. Kinetik Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Northern Oil & Gas, Inc. reciprocity. DEF 14A. Northern Oil & Gas, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Aris Water Solutions, Inc. reciprocity. DEF 14A. Aris Water Solutions, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Ovintiv, Inc. reciprocity. DEF 14A. Ovintiv, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Select Water Solutions, Inc. reciprocity. DEF 14A. Select Water Solutions, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, DT Midstream, Inc. reciprocity. DEF 14A. DT Midstream, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Permian Resources Corp reciprocity. DEF 14A. Permian Resources Corp's most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Civitas Resources, Inc. reciprocity. DEF 14A. Civitas Resources, Inc.'s most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, Range Resources Corp reciprocity. DEF 14A. Range Resources Corp's most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗
- Section 10a, SM Energy Co reciprocity. DEF 14A. SM Energy Co's most recent proxy was read; its disclosed peer group does not include Texas Pacific Land. View filing ↗