Delaware Chancery Court rules for Texas Pacific Land in shareholder vote dispute; stock split planned

Texas Pacific Land Corp

Court ruled Horizon Kinetics/SoftVest must vote with board on Proposal 4, deeming their shares voted in favor.
Share Authorization Proposal to increase authorized common shares approved by stockholders.
Company intends to use newly authorized shares for a stock split via stock dividend, conditioned on final order.
Litigation resolved in TPL's favor; Sidley Austin and Abrams & Bayliss represented the company.

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