Warman Philip T. - 15 Feb 2024 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role
General Counsel & Secretary
Signature
PHILIP T WARMAN
Issuer symbol
NRP
Transactions as of
15 Feb 2024
Net transactions value
-$207,802
Form type
4
Filing time
20 Feb 2024, 16:06:46 UTC
Previous filing
08 Feb 2024
Next filing
06 Feb 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRP COMMON UNITS Options Exercise +5,951 +597% 6,948 15 Feb 2024 Direct F1
transaction NRP COMMON UNITS Tax liability $207,802 -2,391 -34% $86.91 4,557 15 Feb 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NRP PHANTOM UNITS Options Exercise +1,802 +180200% 1,803 15 Feb 2024 COMMON UNITS 1,802 Direct F2
transaction NRP PHANTOM UNITS Options Exercise +4,149 +100% 8,299 15 Feb 2024 COMMON UNITS 4,149 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common units were issued upon conversion of phantom units previously awarded under the issuer's long-term incentive plan ("LTIP") as further described in notes (2), (3) and (4) below.
F2 Phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, were awarded in February 2022 under the issuer's LTIP. One-third of the phantom units vested on the second anniversary of the grant date and converted into common units on the reporting date. Accrued quarterly distributions made during the vesting period were paid in cash to the reporting person on the reporting date. The remaining phantom units under the 2022 award will vest on the third anniversary of the grant date.
F3 Phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, were awarded in February 2023 under the issuer's LTIP. One-third of the phantom units vested on the first anniversary of the grant date and converted into common units on the reporting date. Accrued quarterly distributions made during the vesting period were paid in cash to the reporting person on the reporting date. The remaining phantom units under the 2023 award will vest in substantially equal installments on the second and third anniversaries of the grant date.