Permian Basin Royalty Trust

07/22/2025 | Press release | Distributed by Public on 07/22/2025 14:16

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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(Print or Type Responses)
1. Name and Address of Reporting Person *
OLIVER ERIC L
2. Issuer Name and Ticker or Trading Symbol
PERMIAN BASIN ROYALTY TRUST [PBT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
400 PINE STREET, SUITE 1010 		3. Date of Earliest Transaction (Month/Day/Year)
06/04/2025
(Street)
ABELINE, TX 79601 		4. If Amendment, Date Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City) (State) (Zip)
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)
Code V Amount (A) or (D) Price
Units of Beneficial Ownership 06/11/2025 P 5,000 A $11.49 6,065,000 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/11/2025 X(3) 1,000 A $12.5 6,066,000 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/12/2025 P 22,000 A $11.62(6) 6,088,000 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/12/2025 X(4) 20,300 A $12.5 6,108,300 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/17/2025 P 15,000 A $12.08(7) 6,123,300 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/18/2025 P 11,241 A $12.11(8) 6,134,541 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/20/2025 P 4,582 A $11.96(9) 6,139,123 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/20/2025 X(5) 23,300 A $12.5 6,162,423 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/23/2025 P 20,165 A $12.12(10) 6,182,588 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/24/2025 P 7,138 A $12.1(11) 6,189,726 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/25/2025 P 4,000 A $12.05(12) 6,193,726 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/26/2025 P 2,000 A $12.31(13) 6,195,726 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/27/2025 P 6,898 A $12.51(14) 6,202,624 I By SoftVest, LP(1)
Units of Beneficial Ownership 06/30/2025 P 4,000 A $12.46(15) 6,206,624 I By SoftVest, LP(1)
Units of Beneficial Ownership 07/01/2025 P 2,000 A $12.4 6,208,624 I By SoftVest, LP(1)
Units of Beneficial Ownership 07/02/2025 P 6,483 A $12.78(16) 6,215,107 I By SoftVest, LP(1)
Units of Beneficial Ownership 07/03/2025 P 2,000 A $12.8(17) 6,217,107 I By SoftVest, LP(1)
Units of Beneficial Ownership 4,500 I By Debeck LLC(2)
Units of Beneficial Ownership 4,500 I By Debeck Properties(2)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)
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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Short Put Option (Obligation to buy) $12.50 06/04/2025 S 100 06/04/2025 06/20/2025 Units of Beneficial Ownership 10,000 $1.3 12,500 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/05/2025 S 51 06/05/2025 06/20/2025 Units of Beneficial Ownership 5,100 $1.5(18) 17,600 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/06/2025 S 20 06/06/2025 06/20/2025 Units of Beneficial Ownership 2,000 $1.3 19,600 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/11/2025 S 200 06/11/2025 06/20/2025 Units of Beneficial Ownership 20,000 $1.02(19) 39,600 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/11/2025 X 10 (3) 06/20/2025 Units of Beneficial Ownership 1,000 $ 0 38,600 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/12/2025 S 50 06/12/2025 06/20/2025 Units of Beneficial Ownership 5,000 $1.05 43,600 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/12/2025 X 20.30 (4) 06/20/2025 Units of Beneficial Ownership 20,300 $ 0 23,300 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $12.50 06/20/2025 X 23.30 (5) 06/20/2025 Units of Beneficial Ownership 23,300 $ 0 0 I By SoftVest, LP(1)
Short Put Option (Obligation to buy) $10 06/20/2025 E 2,711 (20) 06/20/2025 Units of Beneficial Ownership 271,100 $ 0 0 I By SoftVest, LP(1)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
OLIVER ERIC L
400 PINE STREET, SUITE 1010
ABELINE, TX 79601 		X
SoftVest Advisors, LLC
400 PINE STREET, SUITE 1010
ABELINE, TX 79601 		X
SoftVest, LP
400 PINE STREET, SUITE 1010
ABELINE, TX 79601 		X
SoftVest GP I, LLC
400 PINE STREET, SUITE 1010
ABELINE, TX 79601 		X

Signatures

/s/ Eric Lee. Oliver 07/22/2025
**Signature of Reporting Person Date
SoftVest Advisors, LLC By: /s/ Eric Lee Oliver, Managing Member 07/22/2025
**Signature of Reporting Person Date
SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric Lee Oliver, Managing Member 07/22/2025
**Signature of Reporting Person Date
SoftVest GP I, LLC By: /s/ Eric Lee Oliver, Managing Member 07/22/2025
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Directly held by SoftVest, LP. SoftVest Advisors, LLC is the investment manager of SoftVest, LP, SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric Lee Oliver is the managing member of SoftVest GP I, LLC. As a result, each of SoftVest, SoftVest GP I, LLC and Eric Lee Oliver may be deemed to beneficially own the securities beneficially owned by SoftVest, LP. Mr. Oliver disclaims any beneficial ownership with respect to the securities held by SoftVest, LP except to the extent of his pecuniary therein.
(2) Represents shares of securities owned by Debeck LLC and Debeck Properties LP, which Mr. Oliver controls. Mr. Oliver has sole voting and dispositive power with respect to such securities, but Mr. Oliver disclaims any beneficial ownership with respect to such securities except to the extent of his pecuniary therein.
(3) The counterparty to these outstanding short put options exercised such options, in its sole discretion and without any action of the Reporting Persons, on June 11, 2025. As a result of such exercise, SoftVest, LP was required to purchase these shares at an exercise price of $12.50 per share.
(4) The counterparty to these outstanding short put options exercised such options, in its sole discretion and without any action of the Reporting Persons, on June 12, 2025. As a result of such exercise, SoftVest, LP was required to purchase these shares at an exercise price of $12.50 per share.
(5) The counterparty to these outstanding short put options exercised such options, in its sole discretion and without any action of the Reporting Persons, on June 20, 2025. As a result of such exercise, SoftVest, LP was required to purchase these shares at an exercise price of $12.50 per share.
(6) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.46 to $11.65, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (6) through (17) to this Form 4.
(7) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.06 to $12.10, inclusive.
(8) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.06 to $12.15, inclusive.
(9) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.94 to $11.98, inclusive.
(10) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.05 to $12.20, inclusive.
(11) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.93 to $12.13, inclusive.
(12) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.04 to $12.05, inclusive.
(13) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.25 to $12.31, inclusive.
(14) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.44 to $12.55, inclusive.
(15) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.45 to $12.48, inclusive.
(16) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.63 to $12.84, inclusive.
(17) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.79 to $12.80, inclusive.
(18) The price reported in Column 8 is the weighted average of the premium received. These puts were written in multiple transactions with premiums ranging from $1.50 to $1.60. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of puts written at each separate premium amount within the ranges set forth in footnotes (18) and (19) to this Form 4.
(19) The price reported in Column 8 is the weighted average of the premium received. These puts were written in multiple transactions with premiums ranging from $1.00 to $1.05.
(20) This short put option was written before the Reporting Persons became a Section 16 insider of the Issuer and therefore was reported on the Reporting Person's Form 3 filed on July 22, 2025, and as such the expiration of this option is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
Permian Basin Royalty Trust published this content on July 22, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on July 22, 2025 at 20:17 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]