SEC Form 4 · accession 0001140361-16-053769
NATURAL RESOURCE PARTNERS LP · NRP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Corbin J Robertson III
Director
Period of report
Feb 14, 2016
Accepted (ET)
Feb 17, 2016 · 6:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001171486
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1,F2 | Feb 14, 2016 | M | 3,700 | — | A | 1,482,916 | D | |
| Common UnitsF1,F2 | Feb 14, 2016 | D | 3,700 | $1.034 | D | 1,479,216 | D | |
| Common UnitsF3 | holding | — | — | — | 387 | I | By Spouse | |
| Common UnitsF4 | holding | — | — | — | 50,461 | I | By The Corbin James Robertson III 2009 Family Trust | |
| Common UnitsF5 | holding | — | — | — | 97,828 | I | By CIII Capital Management, LLC | |
| Common UnitsF6 | holding | — | — | — | 100,000 | I | By BHJ Investments, L.P. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF7,F10 | — | Feb 14, 2016 | M | 3,700 | D | Feb 14, 2016 | Feb 14, 2016 | Common Units | 3,700 | 0 | D |
| Phantom UnitsF7,F8,F9 | — | holding | — | — | — | Feb 13, 2017 | Feb 13, 2017 | Common Units | 3,700 | 3,700 | D |
| Phantom UnitsF7,F8,F9 | — | holding | — | — | — | Feb 12, 2018 | Feb 12, 2018 | Common Units | 3,885 | 3,885 | D |
| Phantom UnitsF7,F8,F9 | — | holding | — | — | — | Feb 11, 2019 | Feb 11, 2019 | Common Units | 4,100 | 4,100 | D |
Explanation of responses
- F1The common units were deemed to have been purchased and sold on the date of vesting of the phantom units listed In Table II, which were paid in cash on a one for one basis based on the average closing price of the common units for the 20 trading days immediately preceding the date of vesting.
- F10As described in Footnote 1, upon vesting, the phantom units were paid in cash on a one for one basis based on the average closing price of the common units for the 20 trading days immediately preceding the date of vesting.
- F2Corbin J. Robertson III shares beneficial ownership of 23,973 common units with his spouse, Brooke Robertson.
- F3Corbin J. Robertson III disclaims beneficial ownership of these common units, and this report shall not be deemed an admission that Corbin J. Robertson III is the beneficial owner of such common units for purposes of Section 16 or for any other purpose.
- F4The beneficiary of The Corbin James Robertson III 2009 Family Trust is the family of Corbin J. Robertson III. Corbin J. Robertson III is the Trust Advisor for The Corbin James Robertson III 2009 Family Trust and may be deemed to beneficially own the common units owned by The Corbin James Robertson III 2009 Family Trust.
- F5Corbin J. Robertson III is the controlling Manager of CIII Capital Management, LLC and may be deemed to beneficially own the common units owned by CIII Capital Management, LLC.
- F6BHJ Investments, L.P. is a limited partnership of which the reporting person is the manager of the general partner. The limited partners of BHJ Investments, L.P. are the reporting person, his wife, and a trust formed for the benefit of the reporting person's children in which the reporting person has no pecuniary interest.
- F7The phantom units were granted to the reporting person under the issuer's long-term incentive plan.
- F8Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions paid by the partnership on each unit will be accrued over the vesting period and paid on vesting.
- F9The phantom units will be paid in cash based on the average closing price of the common units for the 20 trading days immediately prior to the date of vesting.