MARSHALL CARY P 4

What Happened Cary P. Marshall, Senior Vice President and Chief Financial Officer of Alliance Resource Partners (ARLP), was credited with 30,945 restricted units (an award/acquisition) that vested effective January 1, 2026. The Compensation Committee finalized the number of restricted units on January 27, 2026; the Form 4 was filed on January 29, 2026. No cash price is reported for this vesting (award).

Key Details

• Transaction date: January 27, 2026 (vesting finalized); effective vesting date: January 1, 2026.
• Amount: 30,945 restricted units awarded/vested. No purchase price or cash consideration reported (award).
• Conversion: Footnote indicates a 1-for-1 conversion (each restricted unit converts to one partnership unit).
• Post-vesting holdings: Units are reported as held by Cary P. Marshall Revocable Trust (dated 11/15/1998) and Marshall Children LLC c/o Cindy Marshall (per footnotes); exact total beneficial ownership after vesting is not specified in the filing.
• Filing timeliness: Form 4 filed January 29, 2026 — appears timely (within the Form 4 reporting window).
• Source of award: Vesting of grants issued in 2023 under the Long-Term Incentive Plan (LTIP), per Compensation Committee determination.

Context This transaction is a vesting of previously granted long-term incentive restricted units (not an open-market buy or sale). Such vesting increases the insider's holdings but does not involve an immediate cash outlay or sale; it reflects fulfillment of performance/time-based vesting conditions from 2023 grants. Awards and vesting are routine corporate compensation actions and are informational for investors tracking insider holdings rather than direct buy/sell sentiment.