WOOTEN GREGORY F 4

What Happened
Gregory F. Wooten, Executive Vice President of Natural Resource Partners LP (NRP), had multiple LTIP phantom/unit awards vest and convert into 22,202 common units on Feb 10, 2026 (reported on Form 4 filed Feb 12, 2026). To satisfy withholding obligations, 4,923 of those units were disposed at $123.04 per unit for $605,726. After the withholding, Wooten retained a net 17,279 newly issued units (22,202 converted minus 4,923 withheld).

Key Details

• Transaction date: February 10, 2026; Form 4 filed February 12, 2026 (timely).
• Acquisitions: five conversion/exercise entries totaling 22,202 units (codes M — conversion of derivative/phantom units); no per-unit price given for the conversions (N/A).
• Tax withholding: 4,923 units disposed (code F) at $123.04 per unit, proceeds $605,726.
• Footnotes: conversions were LTIP phantom/performance units from awards granted in 2023, 2024 and 2025; some awards were performance-based and converted based on achieved goals; accrued distributions during vesting were paid in cash on the conversion date (see F1–F5).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Transaction codes: M = conversion/exercise of derivative/phantom units; F = payment of tax liability via share withholding.

Context
These were compensation-related LTIP vestings (phantom units converting into common units), not open-market purchases or discretionary sales. The withholding of units to cover taxes is routine and effectively a partial, cashless settlement to pay withholding rather than a voluntary market sale. Performance-based units converted as described in the footnotes (some conversions were contingent on performance targets).