SoftVest LP boosts Cross Timbers (CRT) stake with open-market unit buys

Rhea-AI Filing Summary

SoftVest, LP, a major holder of Cross Timbers Royalty Trust, reported open‑market purchases of trust units. On two consecutive days, SoftVest, LP bought a total of 14,618 Units of Beneficial Interest at weighted average prices around $10.40–$10.49 per unit.

After these transactions, holdings reported for this indirect position increased to 725,943 units. The units are held directly by SoftVest, LP; SoftVest GP I, LLC is its general partner and Eric L. Oliver is the managing member of SoftVest GP I, LLC. Mr. Oliver may be deemed a beneficial owner but disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

Net Buyer: 14,618 shares ($152,440)

Net Buy 2 txns

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

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

Bought 14,618 shs ($152K)

Type	Security	Shares	Price	Value
Purchase	Units of Beneficial Interest	10,033	$10.40	$104K
Purchase	Units of Beneficial Interest	4,585	$10.49	$48K

Holdings After Transaction: Units of Beneficial Interest — 725,943 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 $10.48 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. 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. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.23 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: 14,618 units First transaction size: 10,033 units Second transaction size: 4,585 units +3 more

6 metrics

Total units purchased 14,618 units Open-market buys across two transactions

First transaction size 10,033 units Purchased on 2026-04-08 at weighted avg $10.40

Second transaction size 4,585 units Purchased on 2026-04-07 at weighted avg $10.49

Holdings after latest transaction 725,943 units Indirect position reported for SoftVest, LP

Price range (first footnote) $10.48–$10.50 Multiple trades within this range for one purchase

Price range (second footnote) $10.23–$10.50 Multiple trades within this range for another purchase

Key Terms

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

4 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.

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 ... except to the extent of his pecuniary interest therein."

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)
04/07/2026

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	04/07/2026		P		4,585	A	$10.49(1)	715,910	I	By SoftVest, LP(2)
Units of Beneficial Interest	04/08/2026		P		10,033	A	$10.4(3)	725,943	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 $10.48 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.

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.

3. The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.23 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	04/09/2026
	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric L. Oliver, Managing Member	04/09/2026
	SoftVest GP I, LLC By: /s/ Eric L. Oliver, Managing Member	04/09/2026
	** 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 transactions did SoftVest, LP report in CRT units?

SoftVest, LP reported two open-market purchases of Cross Timbers Royalty Trust (CRT) Units of Beneficial Interest, totaling 14,618 units. The buys occurred on two consecutive days at weighted average prices slightly above $10 per unit, increasing its indirectly reported holdings.

What prices were paid for the recent CRT units purchases?

The filing states weighted average purchase prices of about $10.40 and $10.49 per CRT unit. Footnotes explain that individual trades occurred across ranges of $10.23–$10.50, and the reporting person can provide full breakdowns of units bought at each separate price upon request.

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

After the reported purchases, SoftVest, LP’s indirect position is shown as 725,943 Units of Beneficial Interest in Cross Timbers Royalty Trust. This figure reflects the holdings following the latest buy and is the amount attributed to this indirect ownership line in the filing.

How is Eric L. Oliver related to SoftVest, LP’s CRT holdings?

The filing explains that CRT units are directly held by SoftVest, LP. SoftVest GP I, LLC is SoftVest, LP’s general partner, and Eric L. Oliver is the managing member of SoftVest GP I, LLC. He may be deemed a beneficial owner but disclaims ownership beyond his pecuniary interest.

Are the CRT purchases by SoftVest, LP direct or indirect holdings?

The reported CRT units are classified as indirect holdings for the reporting structure. They are directly owned by SoftVest, LP, with SoftVest GP I, LLC as general partner. For Eric L. Oliver, these are indirect interests through entities, and he limits his beneficial ownership to his economic stake.