Director-linked entity for LandBridge (LB) sells 53,350 Class A shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

LandBridge Co LLC director-associated entity reports open-market sales of Class A shares. Class A shares representing limited liability company interests in LandBridge Co LLC that are directly held by Wincrest Ventures, LP, an entity over which director Charles L. Watson may exercise voting and investment control, were sold in open-market transactions.

Across 2026-03-02, 2026-03-04, and 2026-03-06, Wincrest Ventures, LP sold a total of 53,350 Class A shares at reported prices of $74.0661, $75.1884, and $75.0043 per share, with one transaction described as a weighted average price for trades between $75.1477 and $75.6468 per share. Following these indirect sales, 64,250 Class A shares remain indirectly held through Wincrest Ventures, and 9,554 Class A shares are reported as held directly.

Insider Trade Summary

Net Seller: 53,350 shares ($3,974,476)

Net Sell 4 txns

Insider WATSON CHARLES L.

Role Director

Sold 53,350 shs ($3.97M)

Type	Security	Shares	Price	Value
Sale	Class A shares	13,000	$75.0043	$975K
Sale	Class A shares	9,670	$75.1884	$727K
Sale	Class A shares	30,680	$74.0661	$2.27M
holding	Class A shares	--	--	--

Holdings After Transaction: Class A shares — 64,250 shares (Indirect, See Footnote); Class A shares — 9,554 shares (Direct)

Footnotes (1)

Includes 64,250 Class A shares representing limited liability company interests (the "Class A shares") in LandBridge Company LLC that are directly held by Wincrest Ventures, LP ("Wincrest Ventures"). The reporting person is the chief executive officer of Wincrest Ventures, and the reporting person and his wife jointly own 100% of the ownership interests in Wincrest Investments Inc., the sole general partner of Wincrest Ventures. As a result of the foregoing, the reporting person may exercise voting and investment control over the Class A shares held by Wincrest Ventures and may be deemed to be the beneficial owner thereof. The reporting person disclaims beneficial ownership of Class A shares in excess of his pecuniary interest therein, if any. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.1477 to $75.6468 per share.

Form 4 Insider Transactions: What Each Field Means →

03/06/2026 - 05:05 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WATSON CHARLES L.

(Last)

(First)

(Middle)

5555 SAN FELIPE STREET, SUITE 1200

(Street)

HOUSTON

77056

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LandBridge Co LLC [ LB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A shares	03/02/2026		S		30,680	D	$74.0661	86,920	I	See Footnote⁽¹⁾
Class A shares	03/04/2026		S		9,670	D	$75.1884⁽²⁾	77,250	I	See Footnote⁽¹⁾
Class A shares	03/06/2026		S		13,000	D	$75.0043	64,250	I	See Footnote⁽¹⁾
Class A shares								9,554	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Includes 64,250 Class A shares representing limited liability company interests (the "Class A shares") in LandBridge Company LLC that are directly held by Wincrest Ventures, LP ("Wincrest Ventures"). The reporting person is the chief executive officer of Wincrest Ventures, and the reporting person and his wife jointly own 100% of the ownership interests in Wincrest Investments Inc., the sole general partner of Wincrest Ventures. As a result of the foregoing, the reporting person may exercise voting and investment control over the Class A shares held by Wincrest Ventures and may be deemed to be the beneficial owner thereof. The reporting person disclaims beneficial ownership of Class A shares in excess of his pecuniary interest therein, if any.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.1477 to $75.6468 per share.

	/s/ Scott L. McNeely, Attorney-In-Fact	03/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did the LandBridge (LB) Form 4 filed by Charles L. Watson report?

The Form 4 reports open-market sales of LandBridge Class A shares held by Wincrest Ventures, LP, an entity associated with director Charles L. Watson, totaling 53,350 shares across several March 2026 transactions at prices around $74–$75 per share.

Who actually held and sold the LandBridge (LB) Class A shares on this Form 4?

The Class A shares were directly held by Wincrest Ventures, LP. Charles L. Watson is chief executive officer of Wincrest Ventures and may exercise voting and investment control, but he disclaims beneficial ownership beyond his pecuniary interest in those shares, if any.

How many LandBridge (LB) Class A shares were sold and at what reported prices?

The filing shows sales of 30,680, 9,670, and 13,000 Class A shares, totaling 53,350 shares. Reported prices per share include $74.0661, $75.1884, and $75.0043, with one transaction disclosed as a weighted average between $75.1477 and $75.6468.

How many LandBridge (LB) Class A shares remain after the reported transactions?

After the reported sales, 64,250 LandBridge Class A shares remain indirectly held through Wincrest Ventures, LP, and 9,554 Class A shares are reported as held directly. These figures reflect the holdings following the March 2026 transactions described in the Form 4.

What type of transactions are disclosed in this LandBridge (LB) Form 4?

The Form 4 discloses open-market sales of LandBridge Class A shares, coded as “S” transactions, which are sales in open market or private transactions. The filing also includes a direct holding entry reflecting 9,554 Class A shares held directly after the activity.