SoftVest, LP buys 12,893 CRT units at $10.50

SoftVest, LP, a ten percent owner of CROSS TIMBERS ROYALTY TRUST, reported open-market purchases of a total of 12,893 Units of Beneficial Interest at a weighted average price of $10.50 per unit on March 31 and April 1.

Rhea-AI Filing Summary

SoftVest, LP, a ten percent owner of CROSS TIMBERS ROYALTY TRUST, reported open-market purchases of a total of 12,893 Units of Beneficial Interest at a weighted average price of $10.50 per unit on March 31 and April 1. Following these transactions, SoftVest, LP indirectly holds 710,744 units. The price reflects multiple trades within a range of $10.46 to $10.50. SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric L. Oliver is the managing member of SoftVest GP I, LLC; they may be deemed beneficial owners through their interests in SoftVest, LP.

Insider Trade Summary

Net Buyer: 12,893 shares

Net Buy 2 txns

Insider OLIVER ERIC L, SoftVest, LP, SoftVest GP I, LLC

Role 10% Owner | 10% Owner | 10% Owner

Bought 12,893 shs ($135K)

Type	Security	Shares	Price	Value
Purchase	Units of Beneficial Interest	12,851	$10.50	$135K
Purchase	Units of Beneficial Interest	42	$10.50	$441.00

Holdings After Transaction: Units of Beneficial Interest — 710,744 shares (Indirect, By SoftVest, LP)

Footnotes (2)

1. F1. Directly held by SoftVest, LP. SoftVest GP I, LLC is the general partner of SoftVest, LP and Eric L. Oliver is the managing member of SoftVest GP I, LLC. As a result, each of 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 interest therein.
2. F2. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.46 to $10.50, 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 securities purchased at each separate price within such range.

Key Figures

Total units purchased: 12,893 units Units bought on April 1, 2026: 12,851 units Units bought on March 31, 2026: 42 units +3 more

6 metrics

Total units purchased 12,893 units Open-market buys on March 31 and April 1, 2026

Units bought on April 1, 2026 12,851 units Non-derivative open-market purchase

Units bought on March 31, 2026 42 units Non-derivative open-market purchase

Weighted average price $10.50 per unit Multiple trades between $10.46 and $10.50

Price range $10.46–$10.50 Range of prices for the reported purchases

Holdings after transaction 710,744 units Units of Beneficial Interest held by SoftVest, LP after April 1, 2026

Key Terms

Units of Beneficial Interest, ten percent owner, weighted average price, pecuniary interest, +1 more

5 terms

Units of Beneficial Interest financial

"security_title: "Units of Beneficial Interest""

Units of beneficial interest are pieces of ownership in a trust, fund, or pooled investment that give the holder a right to a share of the assets and income without holding the underlying property directly. Think of them as slices of a pie that entitle you to future slices of profit or distributions; investors care because these units determine how returns, risks, voting rights, and tax treatment are allocated and how easily you can buy or sell your stake.

ten percent owner financial

"SoftVest, LP is marked as a ten percent owner of the issuer"

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

pecuniary interest financial

"Oliver disclaims any beneficial ownership except to the extent of his pecuniary interest therein."

beneficially own financial

"may be deemed to beneficially own the securities beneficially owned by SoftVest, LP."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did CRT report in this Form 4 filing?

The filing shows that SoftVest, LP, a ten percent owner of CROSS TIMBERS ROYALTY TRUST, bought 12,893 Units of Beneficial Interest in open-market transactions at a weighted average price of $10.50 per unit over two consecutive trading days.

Who actually holds the CRT units purchased in this Form 4?

The units are directly held by SoftVest, LP. SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric L. Oliver is the managing member of SoftVest GP I, LLC, which may cause them to be deemed beneficial owners of these securities.

How many CRT units does SoftVest, LP own after these transactions?

After the reported open-market purchases, SoftVest, LP indirectly holds 710,744 Units of Beneficial Interest in CROSS TIMBERS ROYALTY TRUST. This total reflects the position following the April 1, 2026 transaction as shown in the Form 4 data.

What prices were paid for the CRT units in the reported purchases?

The weighted average purchase price was $10.50 per unit. According to the filing, the units were bought in multiple transactions at prices ranging from $10.46 to $10.50, and detailed trade breakdowns are available upon request to the reporting person.

Does Eric L. Oliver claim full beneficial ownership of these CRT units?

No. The footnote states that Eric L. Oliver disclaims beneficial ownership of securities held by SoftVest, LP, except to the extent of his pecuniary interest. His connection arises through his role as managing member of SoftVest GP I, LLC, SoftVest, LP’s general partner.

How many CRT insider buy transactions are reported in this Form 4?

The Form 4 reports two open-market purchase transactions in Units of Beneficial Interest. One occurred on March 31, 2026, for 42 units, and another on April 1, 2026, for 12,851 units, totaling 12,893 units of net insider buying by SoftVest, LP.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 05:47 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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
Estimated average burden
hours per response:			0.5

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 for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

OLIVER ERIC L

(Last) (First) (Middle)

400 PINE STREET, SUITE 1010

(Street)

ABILENE TEXAS 79601

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CROSS TIMBERS ROYALTY TRUST [ CRT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 Interest	03/31/2026		P		42	A	$10.5	697,893	I	By SoftVest, LP(1)
Units of Beneficial Interest	04/01/2026		P		12,851	A	$10.5(2)	710,744	I	By SoftVest, LP(1)

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 Securities Underlying Derivative Security (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: 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

1. Name and Address of Reporting Person^*

OLIVER ERIC L

(Last) (First) (Middle)

400 PINE STREET, SUITE 1010

(Street)

ABILENE TEXAS 79601

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SoftVest, LP

(Last) (First) (Middle)

400 PINE STREET, SUITE 1010

(Street)

ABILENE TEXAS 79601

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SoftVest GP I, LLC

(Last) (First) (Middle)

400 PINE STREET, SUITE 1010

(Street)

ABILENE TEXAS 79601

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Directly held by SoftVest, LP. SoftVest GP I, LLC is the general partner of SoftVest, LP and Eric L. Oliver is the managing member of SoftVest GP I, LLC. As a result, each of 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 interest therein.

2. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.46 to $10.50, 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 securities purchased at each separate price within such range.

	/s/ Eric L. Oliver	04/02/2026
	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric L. Oliver, Managing Member	04/02/2026
	SoftVest GP I, LLC By: /s/ Eric L. Oliver, Managing Member	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
* Form 4: SEC 1474 (03-26)