SEC Form 4 · accession 0001140361-16-053780
NATURAL RESOURCE PARTNERS LP · NRP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen P Smith
Director
Period of report
Feb 14, 2016
Accepted (ET)
Feb 17, 2016 · 6:17 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 | Feb 14, 2016 | M | 3,700 | — | A | 7,252 | D | |
| Common UnitsF1 | Feb 14, 2016 | D | 3,700 | $1.034 | D | 3,552 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF2,F5 | — | Feb 14, 2016 | M | 3,700 | D | Feb 14, 2016 | Feb 14, 2016 | Common Units | 3,700 | 0 | D |
| Phantom UnitsF2,F3,F4 | — | holding | — | — | — | Feb 13, 2017 | Feb 13, 2017 | Common Units | 3,700 | 3,700 | D |
| Phantom UnitsF2,F3,F4 | — | holding | — | — | — | Feb 12, 2018 | Feb 12, 2018 | Common Units | 3,885 | 3,885 | D |
| Phantom UnitsF2,F3,F4 | — | 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.
- F2The phantom units were originally granted to the reporting person under the issuer's long term incentive plan.
- F3The phantom units will be paid in cash based on the average closing price of the common units for the 20 trading days immediately preceding the date of vesting.
- F4Award 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.
- F5As 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.