Kimbell Royalty Partners, LP
For the period ended Mar 31, 2026. Filed May 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Unregistered Sales of Equity Securities
On March 2, 2026, we issued 5,369,218 common units to an existing OpCo unitholder in exchange for 5,369,218 OpCo common units and an equal number of Class B units pursuant to the terms of the Exchange Agreement, dated as of September 23, 2018, by and among us, the General Partner, the Operating Company and the other holders of OpCo common units and Class B units from time to time party thereto (the “Exchange Agreement”).
The issuance of each of the foregoing securities was exempt from the registration requirements of the Securities Act in reliance upon Section 4(a)(2) of the Securities Act.
| · · · · · · · · · · | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Period · · Total Number of Common Units Purchased(1) · · Average Price Paid per Common Unit(1) · · Total Number of Common Units Purchased as Part of Publicly Announced Plans or Programs(2)(3) · · Maximum Number (or Approximate Dollar Value) of Common Units That May Yet be Purchased Under the Plans or Programs(In thousands)(2) | |||||||||
| January 1, 2026 - January 31, 2026 | | — | | $— | | — | | | — |
| February 1, 2026 - February 28, 2026 | | — | | $— | | — | | | — |
| March 1, 2026 - March 31, 2026 | | 330,428 | | $14.55 | | 500,000 | | $92,700 | |
| (1) | All of the common units shown above were withheld during the three months ended March 31, 2026 to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted units. The required withholding is calculated using the closing sales price per common unit reported by the New York Stock Exchange on the date prior to the applicable vesting date. |
| (2) | On March 6, 2026, the Board of Directors approved of a common unit repurchase program (the “Repurchase Program”). The Repurchase Program allows us to acquire up to $100 million of our outstanding common units. The Repurchase Program is authorized to extend through December 31, 2027 and we intend to purchase common units under the Repurchase Program opportunistically with cash on hand, free cash flow from operations or permitted borrowings under our secured revolving credit facility. The Repurchase Program may be temporarily suspended, modified, extended or discontinued by the Board of Directors. Purchases under the Repurchase Program may be made from time to time in the open market in compliance with Rule 10b-18 under the Exchange Act, or privately negotiated transactions, and will be subject to market conditions, applicable legal requirements, contractual obligations and other factors. |
| (3) | Pursuant to the Repurchase Program, on March 19, 2026, we purchased 500,000 common units at an average purchase price of $14.60, for a total cost of $7.3 million, excluding excise tax. The units were retired and canceled immediately upon repurchase. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.