MURPHY PAUL B JR 4

What Happened

• Paul B. Murphy Jr., a director of Natural Resource Partners LP (NRP), received an award of 1,212 phantom units on February 4, 2026. The grant is reported as a derivative award at $0.00 per unit (no cash paid at grant).
• These are phantom units (a form of long-term incentive), not immediate common units or a cash payment. They represent rights that will convert to economic value later according to the plan terms.

Key Details

• Transaction date: 2026-02-04; Filing date: 2026-02-06 (filed within the typical 2-business-day Form 4 window).
• Amount: 1,212 phantom units; reported acquisition price $0.00 (derivative award).
• Shares owned after the transaction: not specified in the provided filing summary.
• Footnote: The units were awarded under the Issuer’s 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit plus tandem distribution-equivalent rights that accrue over the vesting period and are paid in cash upon settlement. The phantom units vest one year after issuance.

Context

• Derivative award explanation: These phantom units are a deferred compensation award. They do not represent immediate transfer of common units or cash; value is realized (and reported) when units vest/settle per the plan.
• Interpretation for investors: Awards to directors are routine compensation and do not necessarily signal a buy or sell decision by the insider. They are primarily retention and compensation tools.