Results of Operations · Company Update

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 19, 2021 San Juan Basin Royalty Trust (Exact name of registrant as specified in its charter) Texas 1-8032 75-6279898 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) PNC BANK, NATIONAL ASSOCIATION PNC Asset Management Group 2200 Post Oak Blvd., Floor 18 Houston, TX 77056 (Address of principal executive offices, including zip code) (Registrant’s telephone number, including area code): (866) 809-4553 BBVA USA, Trust Department 2200 Post Oak Blvd., Floor 18 Houston, TX 77056 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units SJT NYSE Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 2.02. Results of Operations and Financial Condition. On October 19, 2021, the San Juan Basin Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $3,155,671 or $0.067705 per Unit, based primarily upon the reported production during the month of August 2021 by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”). The distribution is payable November 15, 2021, to Unit Holders of record as of October 29, 2021. In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise, subject to the liabilities of that section. Item 8.01 Other Events. On June 1, 2021, The PNC Financial Services Group, Inc. (“PNC”) announced that it had completed the purchase of BBVA USA Bancshares, Inc., a financial holding company, including its U.S. banking subsidiary, BBVA USA, an Alabama-chartered bank and trustee of the Trust (“BBVA USA”). On October 8, 2021, PNC Bank, National Association, an indirect wholly owned subsidiary of PNC (“PNC Bank”), succeeded BBVA USA as the trustee of the Trust following BBVA USA’s merger with and into PNC Bank. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed in accordance with the provisions of Item 601 of Regulation S-K: Exhibit No. Description 99.1 Press Release, dated October 19, 2021. 2 EXHIBIT INDEX Exhibit No. Description 99.1 Press Release, dated October 19, 2021. 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. PNC BANK, NATIONAL ASSOCIATION, AS TRUSTEE FOR THE SAN JUAN BASIN ROYALTY TRUST (Registrant) Date: October 19, 2021 By: /s/ James R. Wilharm James R. Wilharm Senior Vice President and Director of Trust Real Estate Services 4