SoftVest lifts Cross Timbers (CRT) stake with 68,467-unit purchase

Rhea-AI Filing Summary

SoftVest, LP, an entity associated with Eric L. Oliver, purchased 68,467 Units of Beneficial Interest of CROSS TIMBERS ROYALTY TRUST in an open-market transaction. The weighted average purchase price was $10.24 per unit, with individual trades ranging from $9.99 to $10.51. Following this indirect purchase, SoftVest, LP holds 697,851 units attributed to it, with Mr. Oliver deemed a beneficial owner only to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 68,467 shares ($701,102)

Net Buy 1 txn

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

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

Bought 68,467 shs ($701K)

Type	Security	Shares	Price	Value
Purchase	Units of Beneficial Interest	68,467	$10.24	$701K

Holdings After Transaction: Units of Beneficial Interest — 697,851 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 $9.99 to $10.51, 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: 68,467 units Weighted average price: $10.24 per unit Price range: $9.99–$10.51 per unit +1 more

4 metrics

Units purchased 68,467 units Open-market purchase of Units of Beneficial Interest

Weighted average price $10.24 per unit Average price paid for 68,467 units

Price range $9.99–$10.51 per unit Range of prices across multiple purchase trades

Units held after transaction 697,851 units Total Units of Beneficial Interest held by SoftVest, LP after purchase

Key Terms

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

4 terms

Units of Beneficial Interest financial

"purchased 68,467 Units of Beneficial Interest of CROSS TIMBERS ROYALTY TRUST"

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.

pecuniary interest financial

"Mr. 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.

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)
03/27/2026

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	03/27/2026		P		68,467	A	$10.24(1)	697,851	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 $9.99 to $10.51, 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	03/31/2026
	SoftVest, LP By: SoftVest GP I, LLC, its general partner By: /s/ Eric L. Oliver, Managing Member	03/31/2026
	SoftVest GP I, LLC By: /s/ Eric L. Oliver, Managing Member	03/31/2026
	** 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, an entity associated with Eric L. Oliver, bought 68,467 Units of Beneficial Interest in an open-market purchase at a weighted average price of $10.24 per unit, increasing its indirect holdings to 697,851 units.

Who actually bought the CRT units in this Form 4 filing?

The buyer was SoftVest, LP, which directly holds the CRT units. SoftVest GP I, LLC is SoftVest, LP’s general partner, and Eric L. Oliver is the managing member. Oliver may be deemed a beneficial owner but disclaims ownership beyond his pecuniary interest.

At what prices were the 68,467 CRT units purchased by SoftVest, LP?

SoftVest, LP acquired 68,467 CRT units at a weighted average price of $10.24 per unit. Individual trades occurred in multiple transactions at prices ranging from $9.99 to $10.51 per unit, as disclosed in the filing’s weighted-average price footnote.

How many CROSS TIMBERS ROYALTY TRUST units does SoftVest, LP hold after the transaction?

After the reported open-market purchase, SoftVest, LP holds 697,851 Units of Beneficial Interest in CROSS TIMBERS ROYALTY TRUST. This total reflects the indirect holdings attributed to SoftVest, LP as of the transaction date disclosed in the Form 4 filing.

Is Eric L. Oliver considered a beneficial owner of the CRT units bought by SoftVest, LP?

Eric L. Oliver may be deemed to beneficially own the CRT units held by SoftVest, LP because he is managing member of its general partner. However, he expressly disclaims beneficial ownership except to the extent of his pecuniary interest in those securities.

What type of security did SoftVest, LP buy in CROSS TIMBERS ROYALTY TRUST (CRT)?

SoftVest, LP purchased Units of Beneficial Interest in CROSS TIMBERS ROYALTY TRUST. These units represent an ownership interest in the trust’s royalty assets and entitle holders to distributions based on the trust’s underlying oil and gas royalty revenues.