Corbin J. Robertson Jr - Feb 15, 2023 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
/s/ Corbin J. Robertson, Jr.
Stock symbol
NRP
Transactions as of
Feb 15, 2023
Transactions value $
-$1,301,003
Form type
4
Date filed
2/16/2023, 04:20 PM
Previous filing
Feb 3, 2023
Next filing
Feb 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRP Common Units Options Exercise +69.8K +12.17% 643K Feb 15, 2023 Direct F1
transaction NRP Common Units Tax liability -$1.3M -24.1K -3.74% $54.08 619K Feb 15, 2023 Direct
holding NRP Common Units 1.73M Feb 15, 2023 By Western Pocahontas Properties Limited Partnership F2
holding NRP Common Units 156K Feb 15, 2023 By NRP (GP) LP F3
holding NRP Common Units 11K Feb 15, 2023 By Western Pocahontas Corporation F4
holding NRP Common Units 5.29K Feb 15, 2023 By GNP Management Corporation F5
holding NRP Common Units 5.23K Feb 15, 2023 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 +23.5K 0 Feb 15, 2023 Common Units 23.5K Direct F6
transaction NRP Phantom Units Options Exercise +18.2K +1823400% 18.2K Feb 15, 2023 Common Units 18.2K Direct F7
transaction NRP Phantom Units Options Exercise +28.1K +99.99% 56.2K Feb 15, 2023 Common Units 28.1K 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 2020 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.
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 2021 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 2021 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 2022 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 2022 award will vest in substantially equal installments on the second and third anniversaries of the grant date.