SEC Form 4 · accession 0001140361-17-007846
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 13, 2017
Accepted (ET)
Feb 15, 2017 · 7:30 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 13, 2017 | M | 370 | — | A | 725 | D | |
| Common UnitsF1 | Feb 13, 2017 | D | 370 | $36.5375 | D | 355 | 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 13, 2017 | M | 370 | D | Feb 13, 2017 | Feb 13, 2017 | Common Units | 370 | 0 | D |
| Phantom UnitsF2,F3,F4 | — | holding | — | — | — | Feb 12, 2018 | Feb 12, 2018 | Common Units | 389 | 389 | D |
| Phantom UnitsF2,F3,F4 | — | holding | — | — | — | Feb 11, 2019 | Feb 11, 2019 | Common Units | 410 | 410 | 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., together with accrued distribution equivalent rights.
- F2The phantom units were originally granted to the reporting person under the issuer's long term incentive plan. All phantom unit numbers have been adjusted to reflect the issuer's 1-for-10 reverse unit split completed in February 2016.
- 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, together with accrued distribution equivalent rights.