ROBERTSON CORBIN J JR 4

What Happened Corbin J. Robertson Jr., reported as a 10% owner of Natural Resource Partners (NRP), received an award of 7,938 phantom units on 2026-02-04. The units were granted at $0.00 (derivative award) — they are not an open‑market purchase or sale and carry no immediate cash value. Each phantom unit represents the right to receive one common unit upon vesting and includes accrued distribution‑equivalent payments that will be paid in cash when the units vest.

Key Details

• Transaction date: 2026-02-04; filing date: 2026-02-06 (timely).
• Instrument & amount: 7,938 phantom units (transaction code A — award); grant price reported $0.00.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnote F1: Phantom units convert to one common unit upon vesting and accrue quarterly distribution equivalents payable in cash at vesting.
• Footnote F2: Vesting schedule — three substantially equal annual installments beginning February 4, 2027.
• This is a derivative/compensation award for a 10% owner, not an immediate purchase or sale.

Context Phantom units are a form of equity compensation: they don’t create issued common units until they vest and are typically used to align long‑term interests. The award includes rights to distribution equivalents (cash accruals) that are paid upon vesting. Because this was an award rather than a sale, it’s not a direct market sentiment signal; it reflects compensation/long‑term incentive structure.