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

Role: Director
Signature: /s/ Corbin J. Robertson, III
Stock symbol: NRP
Transactions as of: Feb 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/16/2023, 04:07 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		+2.72K	+1.29%		213K	Feb 15, 2023	Direct	F1
holding	NRP	Common Units						19.7K	Feb 15, 2023	By the Corbin James Robertson III 2009 Family Trust	F2
holding	NRP	Common Units						39	Feb 15, 2023	By Spouse	F3
holding	NRP	Common Units						9.78K	Feb 15, 2023	By CIII Capital Management, LLC	F4
holding	NRP	Common Units						10K	Feb 15, 2023	By BHJ Investments, L.P.	F5

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		+2.72K			0	Feb 15, 2023	Common Units	2.72K		Direct	F1

* 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 representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, previously awarded in February 2022. Phantom units vested on the one-year 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.
F2	The beneficiary of The Corbin James Robertson III 2009 Family Trust is the family of the reporting person. The reporting person is the Trust Advisor for the Corbin James Robertson III 2009 Family Trust and may be deemed to beneficially own the common units owned by the Corbin James Robertson III 2009 Family Trust.
F3	The reporting person disclaims beneficial ownership of these common units, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common units.
F4	The reporting person disclaims beneficial ownership of these common units, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common units.
F5	BHJ Investments, L.P. is a limited partnership of which the reporting person is the manager of the general partner. The limited partners of BHJ Investments, L.P. are the reporting person, his spouse, and a trust formed for the benefit of the reporting person's children in which the reporting person has no pecuniary interest.