SoftVest, LP boosts CROSS TIMBERS (CRT) stake with 18,902-unit open-market buy

Rhea-AI Filing Summary

CROSS TIMBERS ROYALTY TRUST reported an open‑market purchase of its Units of Beneficial Interest by major holder SoftVest, LP. On May 20, 2026, SoftVest, LP bought 18,902 units at a weighted average price of $10.87 per unit, with individual trades between $10.50 and $11.00. Following this transaction, SoftVest, LP indirectly held 818,549 units. The units are directly owned by SoftVest, LP, with SoftVest GP I, LLC as general partner and Eric L. Oliver as managing member; Mr. Oliver disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 18,902 shares ($205,465)

Net Buy 1 txn

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

Role null | null | null

Bought 18,902 shs ($205K)

Type	Security	Shares	Price	Value
Purchase	Units of Beneficial Interest	18,902	$10.87	$205K

Holdings After Transaction: Units of Beneficial Interest — 818,549 shares (Indirect, By SoftVest, LP)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.50 to $11.00, 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. 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.

Key Figures

Units purchased: 18,902 units Weighted average price: $10.87 per unit Price range: $10.50–$11.00 per unit +2 more

5 metrics

Units purchased 18,902 units Open-market buy on May 20, 2026

Weighted average price $10.87 per unit Units of Beneficial Interest purchase

Price range $10.50–$11.00 per unit Range of individual trade prices

Holdings after transaction 818,549 units Units indirectly held by SoftVest, LP after purchase

Net buy shares 18,902 units Net change in position from this Form 4

Key Terms

Units of Beneficial Interest, weighted average price, beneficially own, pecuniary interest, +1 more

5 terms

Units of Beneficial Interest financial

"The price reported in Column 4 is a weighted average price. These securities were purchased..."

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.

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.

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.

pecuniary interest financial

"disclaims any beneficial ownership with respect to the securities held by SoftVest, LP except to the extent of his pecuniary interest therein."

ten percent owner financial

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

Form 4 Insider Transactions: What Each Field Means →

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)
05/20/2026

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	05/20/2026		P		18,902	A	$10.87(1)	818,549	I	By SoftVest, LP(2)

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. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.50 to $11.00, 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.

2. 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.

	/s/ Eric L. Oliver	05/22/2026
	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric L. Oliver, Managing Member	05/22/2026
	SoftVest GP I, LLC By: /s/ Eric L. Oliver, Managing Member	05/22/2026
	** 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)

FAQ

What insider transaction did CROSS TIMBERS ROYALTY TRUST (CRT) report?

CROSS TIMBERS ROYALTY TRUST reported that SoftVest, LP made an open-market purchase of 18,902 Units of Beneficial Interest. The trade occurred on May 20, 2026, and reflects additional accumulation by a ten percent owner associated with Eric L. Oliver through indirect ownership.

How many CRT units did SoftVest, LP buy and at what price?

SoftVest, LP bought 18,902 Units of Beneficial Interest at a weighted average price of $10.87 per unit. Individual trades were executed in a range between $10.50 and $11.00, as disclosed, with the seller offering to provide detailed price breakdowns on request.

What is SoftVest, LP’s CRT position after this insider purchase?

After the reported transaction, SoftVest, LP indirectly held 818,549 Units of Beneficial Interest in CROSS TIMBERS ROYALTY TRUST. This figure shows the size of the holder’s stake following the May 20, 2026 purchase, reflecting its status as a ten percent owner of the trust.

Who is Eric L. Oliver in relation to the CRT insider holdings?

Eric L. Oliver is the managing member of SoftVest GP I, LLC, which is the general partner of SoftVest, LP. Because of this structure, he may be deemed to beneficially own SoftVest, LP’s CRT units but disclaims beneficial ownership beyond his pecuniary interest.

How were the CRT insider trades by SoftVest, LP executed?

The CRT units were acquired in open-market transactions at prices between $10.50 and $11.00. The weighted average purchase price was $10.87 per unit, and the reporting persons have undertaken to provide detailed trade-by-trade pricing information upon request to interested parties.

Why does the Form 4 mention beneficial ownership disclaimers for CRT units?

The Form 4 notes that Eric L. Oliver may be deemed to beneficially own units held by SoftVest, LP through SoftVest GP I, LLC. However, he expressly disclaims beneficial ownership of those CRT units except to the extent of his pecuniary interest, clarifying his economic stake.