CHRISTOPHER ZOLAS - 10 Feb 2026 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role
Chief Financial Officer
Signature
/s/ CHRISTOPHER ZOLAS
Issuer symbol
NRP
Transactions as of
10 Feb 2026
Net transactions value
-$846,392
Form type
4
Filing time
12 Feb 2026, 17:15:06 UTC
Previous filing
06 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Zolas Christopher Chief Financial Officer 1415 LOUISIANA STREET, SUITE 3325, HOUSTON /s/ CHRISTOPHER ZOLAS 12 Feb 2026 0001635057

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRP COMMON UNITS Options Exercise +18,418 +35% 70,376 10 Feb 2026 Direct F1
transaction NRP COMMON UNITS Tax liability $846,392 -6,879 -9.8% $123.04 63,497 10 Feb 2026 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 PERFORMANCE UNITS Options Exercise +10,619 0 10 Feb 2026 COMMON UNITS 10,619 Direct F2
transaction NRP PHANTOM UNITS Options Exercise +6,415 0 10 Feb 2026 COMMON UNITS 6,415 Direct F3
transaction NRP PHANTOM UNITS Options Exercise +725 725 10 Feb 2026 COMMON UNITS 725 Direct F4
transaction NRP PHANTOM UNITS Options Exercise +659 +100% 1,318 10 Feb 2026 COMMON UNITS 659 Direct F5
* 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), (4) and (5) below.
F2 Performance-based units representing the right to receive common units, together with tandem distribution equivalent rights, were awarded in February 2023 under the issuer's LTIP. The phantom units vested on the third anniversary of the grant date and converted into common units on the reporting date based upon the achievement of specified performance goals. Accrued quarterly distributions made during the vesting period were paid in cash to the reporting person on the reporting 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 third 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.
F4 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 2024 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 2024 award will vest on the third anniversary of the grant date.
F5 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 2025 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 2025 award will vest in substantially equal installments on the second and third anniversaries of the grant date.