SoftVest, LP 3

3 · PERMIAN BASIN ROYALTY TRUST · Filed Jul 22, 2025

Form 3

Period: 2025-06-03

10% Owner

Holdings

Units of Beneficial Ownership
(indirect: By LLC)
4,500
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $10.00Exp: 2025-09-19→ Units of Beneficial Ownership (772,300 underlying)
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $12.50Exp: 2025-12-19→ Units of Beneficial Ownership (396,500 underlying)
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $15.00Exp: 2025-12-19→ Units of Beneficial Ownership (100 underlying)
Units of Beneficial Ownership
(indirect: By Debeck Properties)
4,500
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $7.50Exp: 2025-09-19→ Units of Beneficial Ownership (86,400 underlying)
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $12.50Exp: 2025-06-20→ Units of Beneficial Ownership (2,500 underlying)
Units of Beneficial Ownership
(indirect: By SoftVest, LP)
6,060,000
Short Put Option (obligation to buy)
(indirect: By SoftVest, LP)
Exercise: $10.00Exp: 2025-06-20→ Units of Beneficial Ownership (271,100 underlying)

Footnotes (3)

[F1]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, SoftVest GP I, LLC and Eric Lee 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.
[F2]Represents shares of securities owned by Debeck LLC and Debeck Properties LP, which Mr. Oliver controls. Mr. Oliver has sole voting and dispositive power with respect to such securities, but Mr. Oliver disclaims any beneficial ownership with respect to such securities except to the extent of his pecuniary therein.
[F3]Each option is exercisable by the holder of the option on or prior to the expiration date.

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