Cary P. Marshall (ARLP) granted 30,945 restricted units that vested

Rhea-AI Filing Summary

Alliance Resource Partners senior VP and CFO Cary P. Marshall reported an equity award of 30,945 restricted units on January 27, 2026. The Compensation Committee determined that vesting requirements for grants issued in 2023 under the Long-Term Incentive Plan had been satisfied, and the number of restricted units was finalized.

The restricted units vested effective January 1, 2026 and are convertible on a 1-for-1 basis into common units. Following this event, Marshall had indirect beneficial ownership of 1,000,663 common units held by the Cary P. Marshall Revocable Trust dated November 15, 1998 and 93,125 common units held by Marshall Children LLC c/o Cindy Marshall.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MARSHALL CARY P

(Last) (First) (Middle)

1717 S. BOULDER AVENUE

SUITE 400

(Street)

TULSA OK 74119

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALLIANCE RESOURCE PARTNERS LP [ ARLP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SENIOR VP AND CFO

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common unit								1,000,663	I	Held by trust(1)
Common unit								93,125	I	Held by LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted unit	(3)	01/27/2026		A		30,945		(4)	(5)	Common unit	30,945	(5)	30,945	D

Explanation of Responses:

1. Units held by Cary P. Marshall Revocable Trust DTD 11/15/1998.

2. Units held by Marshall Children LLC C/O Cindy Marshall.

3. 1 for 1

4. On January 27, 2026, the Compensation Committee determined that the vesting requirements for grants issued in 2023 under the Long-Term Incentive Plan had been satisfied, and the number of restricted units was finalized. The restricted units vested effective January 1, 2026.

5. Not applicable

	/s/ Cary P. Marshall by Kenneth Hemm, pursuant to power of attorney dated April 12, 2013	01/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did ARLP CFO Cary P. Marshall report?

Cary P. Marshall reported an equity award of 30,945 restricted units. The Compensation Committee confirmed vesting requirements for 2023 grants were satisfied, finalizing this number, with the restricted units vesting effective January 1, 2026 under the Long-Term Incentive Plan.

When did Cary P. Marshall’s ARLP restricted units vest and finalize?

The restricted units vested effective January 1, 2026, with the number finalized on January 27, 2026. On that date, the Compensation Committee determined that vesting requirements for 2023 Long-Term Incentive Plan grants had been satisfied and confirmed 30,945 restricted units.

How many ARLP restricted units did Cary P. Marshall receive in this grant?

Cary P. Marshall received 30,945 restricted units as part of a Long-Term Incentive Plan grant. Each restricted unit is convertible on a 1-for-1 basis into a common unit, providing an equivalent number of underlying Alliance Resource Partners common units upon settlement.

What is the conversion ratio for Cary P. Marshall’s ARLP restricted units?

The restricted units are convertible into common units on a 1-for-1 basis. This means each restricted unit corresponds to one Alliance Resource Partners common unit when settled, matching the number of restricted units to the number of underlying common units.

How many ARLP common units does Cary P. Marshall beneficially own through a trust?

Through the Cary P. Marshall Revocable Trust dated November 15, 1998, he beneficially owns 1,000,663 common units. These units are reported as indirectly held, reflecting ownership via the revocable trust rather than direct personal registration on the issuer’s books.

How many ARLP common units are held for Marshall’s children via an LLC?

Marshall Children LLC c/o Cindy Marshall holds 93,125 Alliance Resource Partners common units. These units are reported as indirectly beneficially owned by Cary P. Marshall, with the LLC identified as the holding entity in the insider ownership disclosure.