SEC Form 4 · accession 0001140361-18-008314
NATURAL RESOURCE PARTNERS LP · NRP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Russell D. Gordy
Director
Period of report
Feb 12, 2018
Accepted (ET)
Feb 14, 2018 · 5:12 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 12, 2018 | M | 389 | — | A | 389 | D | |
| Common UnitsF1 | Feb 12, 2018 | D | 389 | $31.6875 | D | 0 | D | |
| Common UnitsF2 | Feb 14, 2018 | A | 2,399 | $0.00 | A | 2,399 | D | |
| Common UnitsF5 | holding | — | — | — | 5,000 | I | By Minion Trail, Ltd | |
| Common UnitsF6 | holding | — | — | — | 2,000 | I | By Rock Creek Ranch I, Ltd. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1 | — | Feb 12, 2018 | M | 389 | D | Feb 12, 2018 | Feb 12, 2018 | Common Units | 389 | 0 | D |
| Phantom UnitsF3,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.
- F2Common units were awarded and issued to the reporting person under the Issuer's 2017 Long-Term Incentive Plan and vested and settled in full on the issuance date.
- 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.
- F5Gordy Oil Company is the general partner of Minion Trail, Ltd. Mr. Gordy is the President and sole stockholder of Gordy Oil Company.
- F6Mr. Gordy, together with his wife, Glenda J. Gordy, owns a majority interest in Rock Creek Ranch I, Ltd. The remaining portion is owned by his adult children.