Corbin J. Robertson Jr. - 23 Feb 2022 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
/s/ Corbin J. Robertson, Jr.
Issuer symbol
NRP
Transactions as of
23 Feb 2022
Net transactions value
-$1,025,892
Form type
4
Filing time
25 Feb 2022, 15:13:33 UTC
Previous filing
17 Feb 2022
Next filing
17 Mar 2022
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 +73,191 +14% 602,009 23 Feb 2022 Direct F1
transaction NRP Common Units Tax liability $1,025,892 -28,801 -4.8% $35.62 573,208 23 Feb 2022 Direct
holding NRP Common Units 1,727,986 23 Feb 2022 By Western Pocahontas Properties Limited Partnership F2
holding NRP Common Units 156,000 23 Feb 2022 By NRP (GP) LP F3
holding NRP Common Units 11,021 23 Feb 2022 By Western Pocahontas Corporation F4
holding NRP Common Units 5,293 23 Feb 2022 By GNP Management Corporation F5
holding NRP Common Units 5,234 23 Feb 2022 By Spouse

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 +31,498 0 23 Feb 2022 Common Units 31,498 Direct F6
transaction NRP Phantom Units Options Exercise +23,459 23,459 23 Feb 2022 Common Units 23,459 Direct F7
transaction NRP Phantom Units Options Exercise +18,234 +100% 36,469 23 Feb 2022 Common Units 18,234 Direct F8
* 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 (6), (7) and (8) below.
F2 The general partner of Western Pocahontas Properties Limited Partnership is Western Pocahontas Corporation, a corporation controlled by the reporting person. The reporting person also holds indirect limited partner interests in Western Pocahontas Properties Limited Partnership. All the common units owned by Western Pocahontas Properties Limited Partnership are reported on this line. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3 The general partner of NRP (GP) LP is GP Natural Resource Partners LLC. The reporting person is the sole member of Robertson Coal Management, which is the sole member of GP Natural Resource Partners LLC. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein
F4 The reporting person is the controlling shareholder of Western Pocahontas Corporation and disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F5 The reporting person is the controlling shareholder of GNP Management Corporation and disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F6 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 2019 under the issuer's LTIP. 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.
F7 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 2020 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 2020 award will vest on the third anniversary of the grant date.
F8 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 2021 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 2021 award will vest in substantially equal installments on the second and third anniversaries of the grant date.