{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-337227","form_type":"8-K","ticker":"PBT","cik":"0000319654","company_name":"PERMIAN BASIN ROYALTY TRUST","filed_at":"2025-12-30T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.710225+00:00","generated_at":"2026-05-16T12:02:53.856385+00:00","sec_items":["8.01","9.01"],"event_type":"litigation","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"SoftVest sues to modify Permian Basin Royalty Trust, seeking to eliminate supermajority vote","bullets":["SoftVest (13.3% unitholder) filed a petition on Dec 26, 2025 to amend Trust Indenture.","Seeks to remove 75% supermajority requirement for amendments and delete prohibited-amendment provisions.","At Dec 16, 2025 special meeting, 98.5% of votes cast (59.9% quorum) supported non-binding reformation proposal.","Petition cites modern drilling costs causing no Waddell Ranch distributions since Oct 2024 despite revenue rise.","Texas Property Code §112.054 invoked; modification would allow majority vote to amend Indenture."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-337227","json":"https://secwatch.observer/filing/0001193125-25-337227.json","markdown":"https://secwatch.observer/filing/0001193125-25-337227.md","text":"https://secwatch.observer/filing/0001193125-25-337227.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/319654/000119312525337227/0001193125-25-337227-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/319654/000119312525337227/2025-12_pbt_judicial_ref.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:02:53.856385+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}