Form 4: Natural Resource Partners LP: CEO Corbin J. Robertson Jr. Reports Conversion of Phantom Units and Resulting Changes in Beneficial Ownership

CEO Corbin J. Robertson Jr. reports the conversion of phantom units into common units and associated transactions affecting his beneficial ownership in Natural Resource Partners LP.

Summary

• On February 11, 2025, Corbin J. Robertson Jr., Chairman and CEO of Natural Resource Partners LP, reported transactions involving common units and phantom units.
• 58,050 common units were acquired upon conversion of phantom units previously awarded under the company's long-term incentive plan (LTIP).
• 22,843 common units were disposed of at a price of $102.72.
• The reporting person also holds indirect beneficial ownership through various entities including Quintana Holdings LP, Western Pocahontas Properties Limited Partnership, NRP (GP) LP, Western Pocahontas Corporation, and GNP Management Corporation.
• 28,076 phantom units from the 2022 award, 27,219 phantom units from the 2023 award, and 2,755 phantom units from the 2024 award were converted into common units.
• Accrued quarterly distributions made during the vesting period were paid in cash to the reporting person on the reporting date.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership due to pre-planned equity compensation. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing reflects standard executive compensation practices involving equity-based awards and their conversion into common stock, a common practice in publicly traded companies to align management interests with those of shareholders.

Stakeholder Impact

• The conversion of phantom units into common units may have a minor dilutive effect on existing shareholders.

Key Dates