S. Reed Morian - Feb 23, 2022 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role: Director
Signature: /s/ S. Reed Morian
Stock symbol: NRP
Transactions as of: Feb 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/25/2022, 03:25 PM
Previous filing: Feb 17, 2022
Next filing: Feb 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Shares	Change %	Shares After	Date	Ownership	Footnotes
transaction	NRP	Common Units	Options Exercise	+6.08K	+2.76%	227K	Feb 23, 2022	Direct	F1
holding	NRP	Common Units				345K	Feb 23, 2022	By Shadder Investments
holding	NRP	Common Units				60.1K	Feb 23, 2022	By Mocol Properties

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		+6.08K			0	Feb 23, 2022	Common Units	6.08K		Direct	F1

* 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 representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, previously awarded in February 2021. Phantom units vested on the one-year 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.

Content

Common units were issued upon conversion of phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, previously awarded in February 2021. Phantom units vested on the one-year 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.