WARMAN PHILIP T 4
4 · NATURAL RESOURCE PARTNERS LP · Filed Feb 20, 2024
Insider Transaction Report
Form 4
WARMAN PHILIP T
General Counsel and Secretary
Transactions
- Exercise/Conversion
COMMON UNITS
2024-02-15+5,951→ 6,948 total - Tax Payment
COMMON UNITS
2024-02-15$86.91/sh−2,391$207,802→ 4,557 total - Exercise/Conversion
PHANTOM UNITS
2024-02-15+1,802→ 1,803 total→ COMMON UNITS (1,802 underlying) - Exercise/Conversion
PHANTOM UNITS
2024-02-15+4,149→ 8,299 total→ COMMON UNITS (4,149 underlying)
Footnotes (3)
- [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 2022 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 2022 award will vest on the third anniversary of the grant 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 2023 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 2023 award will vest in substantially equal installments on the second and third anniversaries of the grant date.