Form 4: Natural Resource Partners LP: Officer Wooten Reports Changes in Beneficial Ownership

Gregory F Wooten, Sr. VP and Chief Engineer of Natural Resource Partners LP, reports the conversion of phantom units into common units and the disposal of common units to cover tax obligations.

Summary

• On February 11, 2025, Gregory F Wooten, Sr. VP, Chief Engineer of Natural Resource Partners LP, filed a Form 4 detailing changes in beneficial ownership.
• Wooten converted phantom units into common units under the company's long-term incentive plan (LTIP).
• Specifically, 9,095 common units were acquired through the conversion of phantom units.
• Additionally, 4,034 common units were disposed of at a price of $102.72 to satisfy tax obligations.
• Following these transactions, Wooten beneficially owns 37,263 common units directly.
• The phantom units converted were awarded in February 2022, February 2023, and February 2024, with one-third of each grant vesting and converting into common units on the reporting date.
• Accrued quarterly distributions made during the vesting period were paid in cash to Wooten on the reporting date.

Sentiment

Score: 6

Explanation: The document reflects routine insider transactions related to equity compensation. It's neutral overall, with a slight positive leaning due to the vesting of phantom units indicating performance achievements.

Positives

• The conversion of phantom units into common units indicates that performance metrics tied to the LTIP have been met, which is a positive sign.

Negatives

• The disposal of 4,034 common units to cover tax obligations, while standard practice, slightly reduces Wooten's direct holdings in the company.

Future Outlook

The remaining phantom units under the 2023 and 2024 awards will continue to vest in the future.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously awarded equity compensation.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation mechanisms.

Key Dates