Form 4: Natural Resource Partners LP: General Counsel Philip T Warman Reports Conversion of Phantom Units to Common Units

Philip T Warman, General Counsel and Secretary of Natural Resource Partners LP, reports the conversion of phantom units to common units and the disposal of common units to cover tax obligations.

Summary

• On February 11, 2025, Philip T Warman, General Counsel and Secretary of Natural Resource Partners LP, reported transactions involving common units and phantom units.
• Warman converted phantom units into common units under the issuer's long-term incentive plan (LTIP).
• Specifically, 6,355 common units were acquired through the conversion of phantom units.
• Additionally, 2,501 common units were disposed of at a price of $102.72 to satisfy tax obligations.
• Following these transactions, Warman directly owns 8,411 common units.
• The phantom units converted were from awards granted in February 2022, February 2023, and February 2024 under the LTIP.
• Accrued quarterly distributions made during the vesting period were paid in cash to Warman on the reporting date.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock and related derivatives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, as mandated by the SEC.
• The LTIP and phantom unit awards are common compensation mechanisms used by companies to align executive incentives with shareholder value.
• The vesting schedules and distribution equivalent rights are typical features of such awards.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a company insider.
• The disposal of shares to cover tax obligations is a common practice and generally doesn't significantly affect the company's financial position.

Key Dates

Keywords

Natural Resource Partners LP, NRP, Form 4, Insider Trading, Philip T Warman, Common Units, Phantom Units, LTIP, Conversion, Disposition