Eric L. Oliver - 04 Jun 2025 Form 4 Insider Report for PERMIAN BASIN ROYALTY TRUST (PBT)

Reporting relationship: 10%+ Owner
Issuer ticker: PBT
Reported as of: 04 Jun 2025
Net transaction value: +$1,915,207
SEC form: 4
Accepted by SEC: 22 Jul 2025, 16:16:27 UTC
Prior SEC filing: 22 Jul 2025
Next SEC filing: 18 Aug 2025
Source filing: View source filing
Reporting owner signature: /s/ Eric Lee. Oliver

Key filing fact

Eric L. Oliver filed Form 4 for PERMIAN BASIN ROYALTY TRUST (PBT) on 22 Jul 2025.

Key facts

This page summarizes Eric L. Oliver's Form 4 filing for PERMIAN BASIN ROYALTY TRUST (PBT).
26 reported transactions and 9 derivative rows are listed below.
Accepted by SEC: 22 Jul 2025, 16:16.

Change

Previous filing in this sequence was filed on 22 Jul 2025.
Current net transaction value: +$1,915,207.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (4)

CIK 0001168602 Primary reporting owner

OLIVER ERIC L

Relationship: 10%+ Owner
Address: 400 PINE STREET, SUITE 1010, ABELINE
Signature: /s/ Eric Lee. Oliver
Signature date: 22 Jul 2025

CIK 0001803391

SoftVest Advisors, LLC

Relationship: 10%+ Owner
Address: 400 PINE STREET, SUITE 1010, ABELINE
Signature: SoftVest Advisors, LLC By: /s/ Eric Lee Oliver, Managing Member
Signature date: 22 Jul 2025

CIK 0001406386

SoftVest, LP

Relationship: 10%+ Owner
Address: 400 PINE STREET, SUITE 1010, ABELINE
Signature: SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric Lee Oliver, Managing Member
Signature date: 22 Jul 2025

CIK 0002077837

SoftVest GP I, LLC

Relationship: 10%+ Owner
Address: 400 PINE STREET, SUITE 1010, ABELINE
Signature: SoftVest GP I, LLC By: /s/ Eric Lee Oliver, Managing Member
Signature date: 22 Jul 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $57,450
Shares: +5,000
Change %: +0.08%
Price: $11.49
Shares after: 6,065,000
Date: 11 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1

PBT transaction

Units of Beneficial Ownership

Exercise of in-the-money or at-the-money derivative security

Transaction value: $12,500
Shares: +1,000
Change %: +0.02%
Price: $12.50
Shares after: 6,066,000
Date: 11 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F3

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $255,640
Shares: +22,000
Change %: +0.36%
Price: $11.62
Shares after: 6,088,000
Date: 12 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F6

PBT transaction

Units of Beneficial Ownership

Exercise of in-the-money or at-the-money derivative security

Transaction value: $253,750
Shares: +20,300
Change %: +0.33%
Price: $12.50
Shares after: 6,108,300
Date: 12 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F4

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $181,200
Shares: +15,000
Change %: +0.25%
Price: $12.08
Shares after: 6,123,300
Date: 17 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F7

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $136,129
Shares: +11,241
Change %: +0.18%
Price: $12.11
Shares after: 6,134,541
Date: 18 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F8

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $54,801
Shares: +4,582
Change %: +0.07%
Price: $11.96
Shares after: 6,139,123
Date: 20 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F9

PBT transaction

Units of Beneficial Ownership

Exercise of in-the-money or at-the-money derivative security

Transaction value: $291,250
Shares: +23,300
Change %: +0.38%
Price: $12.50
Shares after: 6,162,423
Date: 20 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F5

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $244,400
Shares: +20,165
Change %: +0.33%
Price: $12.12
Shares after: 6,182,588
Date: 23 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F10

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $86,370
Shares: +7,138
Change %: +0.12%
Price: $12.10
Shares after: 6,189,726
Date: 24 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F11

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $48,200
Shares: +4,000
Change %: +0.06%
Price: $12.05
Shares after: 6,193,726
Date: 25 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F12

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $24,620
Shares: +2,000
Change %: +0.03%
Price: $12.31
Shares after: 6,195,726
Date: 26 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F13

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $86,294
Shares: +6,898
Change %: +0.11%
Price: $12.51
Shares after: 6,202,624
Date: 27 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F14

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $49,840
Shares: +4,000
Change %: +0.06%
Price: $12.46
Shares after: 6,206,624
Date: 30 Jun 2025
Ownership: By SoftVest, LP
Footnotes: F1, F15

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $24,800
Shares: +2,000
Change %: +0.03%
Price: $12.40
Shares after: 6,208,624
Date: 01 Jul 2025
Ownership: By SoftVest, LP
Footnotes: F1

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $82,853
Shares: +6,483
Change %: +0.1%
Price: $12.78
Shares after: 6,215,107
Date: 02 Jul 2025
Ownership: By SoftVest, LP
Footnotes: F1, F16

PBT transaction

Units of Beneficial Ownership

Purchase

Transaction value: $25,600
Shares: +2,000
Change %: +0.03%
Price: $12.80
Shares after: 6,217,107
Date: 03 Jul 2025
Ownership: By SoftVest, LP
Footnotes: F1, F17

PBT holding

Units of Beneficial Ownership

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 4,500
Date: 04 Jun 2025
Ownership: By Debeck LLC
Footnotes: F2

PBT holding

Units of Beneficial Ownership

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 4,500
Date: 04 Jun 2025
Ownership: By Debeck Properties
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PBT transaction Derivative

Short Put Option (Obligation to buy)

Sale

Transaction value: $130
Shares: -100
Change %: -0.79%
Price: $1.30
Shares after: 12,500
Date: 04 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 10,000
Exercise price: $12.50
Footnotes: F1

PBT transaction Derivative

Short Put Option (Obligation to buy)

Sale

Transaction value: $76.5
Shares: -51
Change %: -0.29%
Price: $1.50
Shares after: 17,600
Date: 05 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 5,100
Exercise price: $12.50
Footnotes: F1, F18

PBT transaction Derivative

Short Put Option (Obligation to buy)

Sale

Transaction value: $26
Shares: -20
Change %: -0.1%
Price: $1.30
Shares after: 19,600
Date: 06 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 2,000
Exercise price: $12.50
Footnotes: F1

PBT transaction Derivative

Short Put Option (Obligation to buy)

Sale

Transaction value: $204
Shares: -200
Change %: -0.5%
Price: $1.02
Shares after: 39,600
Date: 11 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 20,000
Exercise price: $12.50
Footnotes: F1, F19

PBT transaction Derivative

Short Put Option (Obligation to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -10
Change %: -0.03%
Price: $0.000000
Shares after: 38,600
Date: 11 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 1,000
Exercise price: $12.50
Footnotes: F1, F3

PBT transaction Derivative

Short Put Option (Obligation to buy)

Sale

Transaction value: $52.5
Shares: -50
Change %: -0.11%
Price: $1.05
Shares after: 43,600
Date: 12 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 5,000
Exercise price: $12.50
Footnotes: F1

PBT transaction Derivative

Short Put Option (Obligation to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -20
Change %: -0.09%
Price: $0.000000
Shares after: 23,300
Date: 12 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 20,300
Exercise price: $12.50
Footnotes: F1, F4

PBT transaction Derivative

Short Put Option (Obligation to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -23
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 20 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 23,300
Exercise price: $12.50
Footnotes: F1, F5

PBT transaction Derivative

Short Put Option (Obligation to buy)

Expiration of short derivative position

Transaction value: $0
Shares: -2,711
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 20 Jun 2025
Ownership: By SoftVest, LP
Underlying class: Units of Beneficial Ownership
Underlying amount: 271,100
Exercise price: $10.00
Footnotes: F1, F20

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 20 footnotes

Footnote F1

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.

Footnote F2

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.

Footnote F3

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.

Footnote F4

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.

Footnote F5

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.

Footnote F6

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.

Footnote F7

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.

Footnote F8

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.

Footnote F9

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.

Footnote F10

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.

Footnote F11

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.

Footnote F12

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.

Footnote F13

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.

Footnote F14

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.

Footnote F15

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.

Footnote F16

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.

Footnote F17

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.

Footnote F18

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.

Footnote F19

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.

Footnote F20

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").