Eric L. Oliver - Sep 19, 2025 Form 4 Insider Report for PERMIAN BASIN ROYALTY TRUST (PBT)

Role: 10%+ Owner
Signature: /s/ Eric Lee Oliver
Stock symbol: PBT
Transactions as of: Sep 19, 2025
Transactions value $: $0
Form type: 4
Date filed: 9/22/2025, 04:26 PM
Previous filing: Aug 22, 2025
SEC: View on sec.gov

Reporting Owners (4)

Name	Relationship	Address	Signature	Signature date	CIK
OLIVER ERIC L	10%+ Owner	400 PINE STREET, SUITE 1010, ABELINE	/s/ Eric Lee Oliver	2025-09-22	0001168602
SoftVest Advisors, LLC	10%+ Owner	400 PINE STREET, SUITE 1010, ABELINE	SoftVest Advisors, LLC By: /s/ Eric Lee Oliver, Managing Member	2025-09-22	0001803391
SoftVest, LP	10%+ Owner	400 PINE STREET, SUITE 1010, ABELINE	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric Lee Oliver, Managing Member	2025-09-22	0001406386
SoftVest GP I, LLC	10%+ Owner	400 PINE STREET, SUITE 1010, ABELINE	SoftVest GP I, LLC By: /s/ Eric Lee Oliver, Managing Member	2025-09-22	0002077837

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PBT	Short Put Option (Obligation to buy)	Expiration of short derivative position	$0	-7.72K	-100%	$0.00	0	Sep 19, 2025	Units of Beneficial Ownership	772K	$10.00	By SoftVest, LP	F1, F2
transaction	PBT	Short Put Option (Obligation to buy)	Expiration of short derivative position	$0	-864	-100%	$0.00	0	Sep 19, 2025	Units of Beneficial Ownership	86.4K	$7.50	By SoftVest, LP	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This short put option was written before the Reporting Persons became Section 16 insiders of the Issuer and therefore was reported on the Reporting Persons' 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.
F2	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 Advisors, LLC, SoftVest GP I, LLC and Mr. 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.

Content

This short put option was written before the Reporting Persons became Section 16 insiders of the Issuer and therefore was reported on the Reporting Persons' 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.

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 Advisors, LLC, SoftVest GP I, LLC and Mr. 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.