FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * SUBIN NEIL S 2. Issuer Name and Ticker or Trading Symbol Gulf Coast Ultra Deep Royalty Trust [ GULTU ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    __X__ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)
2336 SE OCEAN BLVD, SUITE 400
3. Date of Earliest Transaction (MM/DD/YYYY)
6/23/2022
(Street)
STUART, FL 34996
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  6/23/2022    S    113460  D $0.0503  33711382 (1)(2) I  By Milfam II L.P. 
Common Stock  6/23/2022    S    12065  D $0.0503  3584804 (1)(2) I  By LIMFAM LLC 
Common Stock  6/23/2022    S    7637  D $0.0503  2269223 (1)(2) I  By Lloyd I. Miller, III Revocable Trust 
Common Stock  6/23/2022    S    5259  D $0.0503  1562434 (1)(2) I  By MBM - Trust A-4 
Common Stock  6/23/2022    S    2629  D $0.0503  781217 (1)(2) I  By Miller Family Education and Medical Trust 
Common Stock  6/23/2022    S    2629  D $0.0503  781217 (1)(2) I  By Susan F. Miller Spousal Trust A-4 
Common Stock  6/23/2022    S    852  D $0.0503  253123 (1)(2) I  By Milfam I L.P. 
Common Stock  6/23/2022    S    851  D $0.0503  252884 (1)(2) I  By Co-Trustee GST Lloyd A. Crider 
Common Stock  6/23/2022    S    751  D $0.0503  223186 (1)(2) I  By Milfam LLC 
Common Stock  6/23/2022    S    597  D $0.0503  177434 (1)(2) I  By Trustee GST Catherine C. Miller 
Common Stock  6/24/2022    S    25  D $0.0500  33711357 (1)(2) I  By Milfam II L.P. 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
(1)  Except for possessing voting and dispositive power, the reporting person disclaims any other beneficial ownership of, and specifically any pecuniary interest in, the securities reported herein. This filing is not, and shall not be deemed, an admission (and the reporting person expressly disclaims) that the reporting person is, for purposes of Rule 16a-1(a)(2) under Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the beneficial owner of any equity securities covered by this filing.
(2)  Mr. Neil Subin is the President and Manager of MILFAM LLC, which serves as manager, general partner, or investment advisor of a number of entities formerly managed or advised by the late Lloyd I. Miller, III. Mr. Subin also serves as trustee of a number of Miller family trusts. There has been no acquisition transaction by the reporting person with respect to the securities reported herein within the meaning of Section 16 of the Exchange Act.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SUBIN NEIL S
2336 SE OCEAN BLVD, SUITE 400
STUART, FL 34996

X


Signatures
/s/ Neil S. Subin 6/27/2022
**Signature of Reporting Person Date

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).
** 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.
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 control number.
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