MURPHY PAUL B JR 4

What Happened

• Paul B. Murphy Jr., a director of Natural Resource Partners LP (NRP), received a total of 2,152 common units on February 10, 2026. The filing records two conversions of 1,076 units each (derivative-to-common conversions). No cash purchase price was reported; the units were issued upon conversion of previously granted phantom units and accompanied by cash payment of accrued distributions.

Key Details

• Transaction date: 2026-02-10; Form 4 filed: 2026-02-12 (timely filing).
• Reported acquisitions: two derivative conversions of 1,076 shares each, total 2,152 common units.
• Price: N/A — units were issued upon conversion of vested phantom units (not a market purchase).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnote: Phantom units were granted in February 2025, vested on the one-year anniversary, converted one-for-one into common units on the reporting date, and accrued quarterly distributions during vesting were paid in cash to the reporting person.

Context

• This was a conversion of deferred/phantom equity into common units upon vesting (an award/settlement), not an open-market purchase or sale. Such conversions are common when time-based awards vest and do not necessarily signal the insider's buy/sell intention in the public market.