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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
[_] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Alpine Capital, L.P.
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(Last) (First) (Middle)
201 Main Street, Suite 3100
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(Street)
Fort Worth, Texas 76102
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(City) (State) (Zip)
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2. Issuer Name AND Ticker or Trading Symbol
San Juan Basin Royalty Trust (SJT)
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3. IRS Identification Number of Reporting Person, if any (Voluntary)
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4. Statement for Month/Day/Year
03/10/03
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5. If Amendment, Date of Original (Month/Day/Year)
N/A
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[_] Form Filed by One Reporting Person
[X] Form Filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2. 2A. 3. Disposed of (D) Owned Follow- Form: 7.
Transac- Deemed Transaction (Instr. 3, 4 and 5) ing Reported Direct Nature of
tion Execution Code ------------------------------- Transac- (D) or Indirect
1. Date Date, if any Instr. 8) (A) tions(s) Indirect Beneficial
Title of Security (Month/ (Month/ ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Day/Year) Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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Units of
Beneficial Interest 03/10/03 S 29,100 D $15.75 D N/A
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Units of
Beneficial Interest 03/10/03 S 2,500 D $15.40 10,517,000 D N/A
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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).
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.
(Over)
SEC 1474 (9-02)
Page 1
FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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9.
Number 10.
of Owner-
Deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion 3A Number of Title and Amount Bene- ative Nature
or Deemed Derivative 6. of Underlying 8. ficially Secur- of
Exer- Exe- 4. Securities Date Securities Price Owned ity: In-
cise 3. cution Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price Trans- Date, action or Disposed Expiration Date ---------------- Deriv- ing Re- (D) or Bene-
1. of action if Code of (D) (Month/Day/Year) Amount ative ported In- ficial
Title of Deriv- Date any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Explanation of Responses:
ALPINE CAPITAL, L.P.
/s/ Robert W. Bruce III March 12, 2003
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**Signature of Reporting Person Date
Robert W. Bruce III, Manager
**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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
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CONTINUATION SHEET TO FORM 4
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Name and Address Reporting Person: Alpine Capital, L.P.
201 Main Street, Suite 3100
Fort Worth, Texas 76102
Issuer Name and Ticker or Trading Symbol: San Juan Basin Royalty Trust (SJT)
Statement for Month/Day/Year: March 10, 2003
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Other Reporting Persons: Signatures of Reporting Persons:
Algenpar, Inc. (1) ALGENPAR, INC.
201 Main Street, Suite 3100
Fort Worth, Texas 76102 By: /s/ J. Taylor Crandall
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J. Taylor Crandall
J. Taylor Crandall (1) /s/ J. Taylor Crandall
201 Main Street, Suite 3100 ----------------------------------
Fort Worth, Texas 76102 J. TAYLOR CRANDALL
Robert W. Bruce III (1) /s/ Robert W. Bruce III
934 Weed Street ----------------------------------
New Canaan, Connecticut 06840 ROBERT W. BRUCE III
Explanation of Responses:
(1) J. Taylor Crandall ("Crandall") is the President and sole stockholder
of Algenpar, Inc., a Texas corporation ("Algenpar"), which is one of two general
partners of Alpine Capital, L.P., a Texas limited partnership ("Alpine"), which
is the direct beneficial owner of certain of the securities reported herein.
Robert W. Bruce III ("Bruce") is the other general partner of Alpine. Pursuant
to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended
(the "Act"), Crandall, Algenpar and Bruce are deemed to be beneficial owners of
the shares beneficially owned by Alpine only to the extent of the greater of his
or its respective direct or indirect interest in the profits or capital account
of Alpine. Pursuant to Rule 16a-l(a)(4) under the Act, this filing shall not be
deemed an admission that Bruce, Crandall or Algenpar is, for purposes of Section
16 of the Act or otherwise, the beneficial owner of any securities owned by
Alpine in excess of such amount.
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