Christopher Zolas - Feb 15, 2023 Form 4 Insider Report for NATURAL RESOURCE PARTNERS LP (NRP)

Role
CFO and Treasurer
Signature
/s/ Christopher Zolas
Stock symbol
NRP
Transactions as of
Feb 15, 2023
Transactions value $
-$25,850
Form type
4
Date filed
2/16/2023, 04:25 PM
Previous filing
Feb 3, 2023
Next filing
Feb 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NRP Common Units Options Exercise +19.7K +221.73% 28.6K Feb 15, 2023 Direct F1
transaction NRP Common Units Tax liability -$25.9K -478 -1.67% $54.08 28.2K Feb 15, 2023 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 +5.37K 0 Feb 15, 2023 Common Units 5.37K Direct F2
transaction NRP Phantom Units Options Exercise +7.94K +794400% 7.95K Feb 15, 2023 Common Units 7.94K Direct F3
transaction NRP Phantom Units Options Exercise +6.43K +99.97% 12.9K Feb 15, 2023 Common Units 6.43K Direct F4
* 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 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.
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 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.
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 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.