SoftVest LP boosts Cross Timbers (CRT) stake with 7,774-unit open-market buy

Rhea-AI Filing Summary

SoftVest, LP, a major holder of Cross Timbers Royalty Trust, reported fresh open-market buying of trust units. On June 24, SoftVest, LP bought 4,047 Units of Beneficial Interest at a weighted-average price of $8.66 per unit, in trades ranging from $8.65 to $8.67. On June 25, it bought another 3,727 units at a weighted-average price of $8.88, with individual trades between $8.87 and $8.88. After these purchases, SoftVest, LP indirectly holds 924,960 units. SoftVest GP I, LLC is the general partner of SoftVest, LP, and Eric L. Oliver is the managing member; they may be deemed beneficial owners of SoftVest, LP’s holdings, though Mr. Oliver disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

Net Buyer: 7,774 shares ($68,143)

Net Buy 2 txns

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

Role null | null | null

Bought 7,774 shs ($68K)

Type	Security	Shares	Price	Value
Purchase	Units of Beneficial Interest	3,727	$8.88	$33K
Purchase	Units of Beneficial Interest	4,047	$8.66	$35K

Holdings After Transaction: Units of Beneficial Interest — 924,960 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 $8.65 to $8.67, 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 $8.87 to $8.88, 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

Units bought June 24: 4,047 units Units bought June 25: 3,727 units Total units bought: 7,774 units +3 more

6 metrics

Units bought June 24 4,047 units Open-market purchase at weighted-average $8.66

Units bought June 25 3,727 units Open-market purchase at weighted-average $8.88

Total units bought 7,774 units Net buying across two days

Holdings after trades 924,960 units Units of Beneficial Interest indirectly held by SoftVest, LP

Price range June 24 $8.65–$8.67 Multiple transactions around $8.66 weighted-average

Price range June 25 $8.87–$8.88 Multiple transactions around $8.88 weighted-average

Key Terms

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

5 terms

Units of Beneficial Interest financial

"SoftVest, LP bought 4,047 Units of Beneficial Interest at a weighted-average price"

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

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

ten percent owner financial

"SoftVest, LP is listed as a ten percent owner in the reporting persons table."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/26/2026 - 05:35 PM Accepted by SEC EDGAR 06/26/2026 - 05:35 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)
06/24/2026

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	06/24/2026		P		4,047	A	$8.66(1)	921,233	I	By SoftVest, LP(2)
Units of Beneficial Interest	06/25/2026		P		3,727	A	$8.88(3)	924,960	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 $8.65 to $8.67, 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 $8.87 to $8.88, 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	06/26/2026
	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric L. Oliver, Managing Member	06/26/2026
	SoftVest GP I, LLC By: /s/ Eric L. Oliver, Managing Member	06/26/2026
	** 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 report for CROSS TIMBERS ROYALTY TRUST (CRT)?

SoftVest, LP reported two open-market purchases of CROSS TIMBERS ROYALTY TRUST units, totaling 7,774 Units of Beneficial Interest. These trades occurred on June 24 and June 25, increasing SoftVest’s indirect holdings to 924,960 units after the transactions.

At what prices did SoftVest buy CRT Units of Beneficial Interest?

SoftVest, LP paid a weighted-average price of $8.66 per unit on June 24 and $8.88 on June 25. Footnotes state trades ranged from $8.65–$8.67 and $8.87–$8.88, respectively, across multiple individual transactions.

How many CRT units does SoftVest hold after these Form 4 transactions?

Following the reported open-market purchases, SoftVest, LP indirectly holds 924,960 Units of Beneficial Interest in CROSS TIMBERS ROYALTY TRUST. This figure reflects the updated ownership position after buying a combined 7,774 units across the two disclosed transaction dates.

Who is considered the beneficial owner of SoftVest’s CRT holdings?

The filing notes SoftVest, LP directly owns the CRT units, with SoftVest GP I, LLC as its general partner and Eric L. Oliver as managing member. They may be deemed beneficial owners, but Mr. Oliver disclaims beneficial ownership except for his pecuniary interest.

What does the weighted-average price disclosure mean for the CRT purchases?

The weighted-average prices of $8.66 and $8.88 reflect multiple trades within narrow price ranges. The filer states it will provide full breakdowns of units purchased at each exact price, upon request, to the trust, security holders, or SEC staff.