{"url_path":"/sec/pbt/10-k/2026/item-10","section_key":"item-10","section_title":"Item 10 Directors and Executive Officers of the Registrant","topic":"sec","document":{"doc_type":"10-K/A","doc_date":"2026-07-14","source_url":"https://www.sec.gov/Archives/edgar/data/319654/0001193125-26-303155-index.html","accession_number":"0001193125-26-303155","cik":"0000319654","ticker":"PBT","issuer_name":"PERMIAN BASIN ROYALTY TRUST","edgar_url":"https://www.sec.gov/Archives/edgar/data/319654/0001193125-26-303155-index.html","primary_entity_key":"0000319654","primary_entity_name":"PERMIAN BASIN ROYALTY TRUST"},"word_count":305,"has_tables":true,"body_markdown":"Item 10. Directors and Executive Officers of the Registrant\n\nDIRECTORS AND OFFICERS\n\nThe Trust has no directors or executive officers. The Trustee is a corporate trustee which may be removed, with or without cause, at a meeting of the Unit holders, by the affirmative vote of the holders of a majority of all the Units then outstanding.\n\nAUDIT COMMITTEE AND NOMINATING COMMITTEE\n\nBecause the Trust has no directors, it does not have an audit committee, an audit committee financial expert or a nominating committee.\n\nSECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE\n\nSection 16(a) of the Securities Exchange Act of 1934, as amended, requires the Trust’s directors, officers or beneficial owners of more than ten percent of a registered class of the Trust’s equity securities to file reports of ownership and changes in ownership with the SEC and to furnish the Trust with copies of all such reports.\n\nThe Trust has no directors or officers and based solely on its review of the reports received by it, the Trust believes that during the fiscal year of 2025, no person who was a beneficial owner of more than ten percent of the Trust’s Units failed to file on a timely basis any report required by Section 16(a), with the exception of one late Form 3 and one late Form 4 filed by Eric L. Oliver, SoftVest Advisors, LLC, SoftVest, LP, and SoftVest GP I, LLC.\n\nSTANDARDS OF CONDUCT\n\nBecause the Trust has no employees, it does not have a code of ethics. Employees of the Trustee, Argent Trust Company, must comply with the company’s code of ethics which may be found at www.argentfinancial.com.\n\nINSIDER TRADING POLICY\n\nBecause the Trust does not have officers, directors, or employees, it has not adopted insider trading policies and procedures governing the purchase, sale and/or other disposition of Trust securities by such persons."}