DORCHESTER MINERALS, L.P. 10-K

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED UNITHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES   Our common units trade on the NASDAQ Global Select Market under the ticker symbol “DMLP”.   As of December 31, 2022, there were 19,294 common unitholders.   Our partnership agreement requires that we make quarterly distributions in an amount equal to all funds that we receive from the Royalty Properties and the NPI (other than cash proceeds received by the Partnership from a public or private offering of securities of the Partnership) less certain expenses and reasonable reserves.   Performance Graph   The Performance Graph below compares the cumulative five-year total unitholder return on our common units beginning December 31, 2017 and for each subsequent year end through and including December 31, 2022, with cumulative returns of the S&P 500 Index and an industry peer group selected by us. The industry peer group we selected is comprised of the following companies: Black Stone Minerals, L.P., Viper Energy Partners, L.P., and Kimbell Royalty Partners, L.P.   The Performance Graph assumes $100 was invested in our common units and in each of the other indices described above on December 31, 2017. Distributions or dividends reinvested has been assumed on the last trading day of each quarter. The stock performance shown on the graph below is not necessarily indicative of future price performance.           12/31/2017     12/31/2018     12/31/2019     12/31/2020     12/31/2021     12/31/2022   Dorchester Minerals, L.P.   $ 100.00     $ 106.07     $ 157.22     $ 99.71     $ 197.01     $ 339.57   Industry Group   $ 100.00     $ 101.51     $ 110.44     $ 59.61     $ 109.90     $ 172.59   S&P 500 Index   $ 100.00     $ 95.62     $ 125.72     $ 148.85     $ 191.58     $ 156.88     19 Table of Contents   Issuer Purchases of Equity Securities   Period   (a) Total Number of Units Purchased     (b) Average Price Paid per Unit     (c) Total Number of Units Purchased as Part of Publicly Announced Plans or Programs     (d) Maximum Number of Units that May Yet Be Purchased Under the Plans or Programs   October 1, 2022 – October 31, 2022     -       N/A       -       123,159 (1) November 1, 2022 – November 30, 2022     -       N/A       -       123,159 (1) December 1, 2022 – December 31, 2022     35,000 (2)   $ 28.36       35,000       88,159 (1) Total     35,000     $ 28.36       35,000       88,159 (1)     (1) The number of common units that the Operating Partnership may grant under the Dorchester Minerals Operating LP Equity Incentive Program, which was approved by our common unitholders on May 20, 2015 (the “Equity Incentive Program”), each fiscal year may not exceed 0.333% of the number of common units outstanding at the beginning of the fiscal year. In 2022, the maximum number of common units that could be purchased under the Equity Incentive Program is 123,159 common units.     (2) Open-market purchases by the Operating Partnership, an affiliate of the Partnership, pursuant to a Rule 10b5-1 plan adopted on November 8, 2022 for the purpose of satisfying equity awards to be granted pursuant to the Equity Incentive Program.   Recent Sales of Unregistered Securities   None.    ITEM 6. [RESERVED]   20 Table of Contents