SEC Form 4 · accession 0001140361-16-078398
NATURAL RESOURCE PARTNERS LP · NRP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert B Karn III
Director
Period of report
Aug 30, 2016
Accepted (ET)
Aug 31, 2016 · 5:21 pm EDT
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 | Aug 30, 2016 | D | 32 | $18.7601 | D | 0 | I | By The Payton Grace Portnoy Irrevocable Trust |
| Common UnitsF1,F2 | Aug 30, 2016 | D | 32 | $18.7601 | D | 0 | I | By The Blake Kristopher Portnoy Irrevocable Trust |
| Common UnitsF1 | holding | — | — | — | 500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF3,F4,F5 | — | holding | — | — | — | Feb 13, 2017 | Feb 13, 2017 | Common Units | 370 | 370 | D |
| Phantom UnitsF3,F4,F5 | — | holding | — | — | — | Feb 12, 2018 | Feb 12, 2018 | Common Units | 389 | 389 | D |
| Phantom UnitsF3,F4,F5 | — | holding | — | — | — | Feb 11, 2019 | Feb 11, 2019 | Common Units | 410 | 410 | D |
Explanation of responses
- F1All units reported on this Form 4 have been adjusted to reflect the 1-for-10 reverse unit split that was effective February 18, 2016.
- F2Mr. Karn disclaims beneficial ownership of these securities.
- F3The phantom units were originally granted to the reporting person under the issuer's long term incentive plan and have been adjusted to reflect the 1-for-10 reverse unit split that was effective February 18, 2016.
- F4The 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.
- F5Award 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.