SoftVest, L.P., led by Eric L. Oliver, and its affiliates, who own approximately 13.3% of the outstanding units of Permian Basin Royalty Trust $(PBT)$, have engaged in shareholder activism aimed at amending PBT’s charter. Last December, SoftVest sponsored a non-binding proposal to eliminate super-majority voting requirements, which they argue limit unitholder value creation. The proposal received overwhelming support from unitholders, with 98.5% of votes cast in favor, and was endorsed by proxy advisory firms Glass Lewis and ISS. Following the vote, SoftVest filed a petition in the District Court of Tarrant County to implement the proposed charter amendments, with a court hearing scheduled for May 8, 2026. Unitholders have been notified of the proceedings as required by law, but are not required to take any action.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Permian Basin Royalty Trust published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-044659), on February 10, 2026, and is solely responsible for the information contained therein.