Dorchester Minerals (DMLP) Proxy filing summary

Executive summary

• Net income for 2025 was $57.4 million, with $132.0 million distributed to limited partners.

• Acquired 3,050 net royalty acres in Colorado for $23.0 million in common units.

• Increased oil and gas sales volumes from recent acquisitions and drilling in the Rockies, offsetting declines in the Bakken region.

• Leasehold interest assignment in Texas generated $5.4 million; lease bonuses totaled $4.0 million.

• Annual Meeting scheduled for May 13, 2026, with proxy materials available online.

Voting matters and shareholder proposals

• Election of three managers to the Board and Advisory Committee until the 2027 meeting.

• Approval of Grant Thornton LLP as independent auditor for 2026.

• Advisory vote on executive compensation (Say-on-Pay).

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of five appointed, three elected, and one contributor-appointed manager.

• Majority of the Board is independent per NASDAQ and SEC rules.

• Board leadership separated between Chairman and CEO roles for oversight.

• Advisory Committee serves as Audit Committee and addresses conflicts of interest.

• No nominating committee; nominations made by general partner members.