Form 4: Paul B. Murphy Jr. transfers 5,000 NRP common units as gift

Rhea-AI Filing Summary

Paul B. Murphy Jr., a director of Natural Resource Partners L.P. (NRP), reported a transfer of common units that the filing identifies as a gift. The tableed transaction shows 5,000 common units were disposed of under Transaction Code G (gift), and the form lists 18,985 common units as the number beneficially owned by the reporting person following the reported transaction. The filing includes an explicit explanation that the units were transferred from the reporting person and gifted to trusts for the benefit of family members.

The report records no derivative transactions or other option activity, and the change is presented as a direct disposition of non-derivative securities.

Insights

Corporate Governance Expert

TL;DR: Director gifted 5,000 NRP common units into family trusts; reported direct holdings equal 18,985 units and no derivatives were involved.

The Form 4 shows a non‑derivative disposition coded as a gift, which is commonly a personal estate planning or family transfer action rather than a corporate governance vote of no confidence. Because the disclosure records a reduction to 18,985 direct units and no related derivative activity, the transaction appears administrative and not indicative of insider trading or compensation‑linked transactions. Materiality to investors is low absent further disclosures about larger ownership stakes or related transactions.

Securities/Compliance Analyst

TL;DR: Reported transfer is coded as a gift (G); transaction is straightforward, non‑derivative, and documented with an explanatory note.

The filing’s Table I records a 5,000‑unit disposition under Transaction Code G with an explanatory statement that the units were gifted to trusts for family members. There are no entries in Table II for derivative securities. From a compliance perspective, the form meets the basic disclosure elements: identity, security class, transaction code, quantity disposed, post‑transaction beneficial ownership and an explanation. This disclosure does not, on its face, raise regulatory or liquidity concerns beyond routine insider reporting.

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

OMB Number:			3235-0287
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hours per response:			0.5

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^*

MURPHY PAUL B JR

(Last) (First) (Middle)

1415 LOUISIANA STREET

SUITE 3325

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NATURAL RESOURCE PARTNERS LP [ NRP ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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 UNITS	03/11/2025		G(1)		5,000	D	$0	18,985	D

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

Explanation of Responses:

1. The units were transferred from the reporting person and gifted to trusts for the benefit of family members.

	PAUL B MURPHY JR.	08/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Paul B. Murphy Jr. report on the Form 4 for NRP?

The Form 4 reports a disposition of 5,000 common units of Natural Resource Partners L.P. coded as G (gift) with an explanatory note stating the units were gifted to trusts for family members.

How many NRP common units does the reporting person own after the reported transaction?

The filing shows the reporting person beneficially owned 18,985 common units following the reported transaction.

Does the Form 4 include any derivative securities or option activity for NRP?

No. Table II contains no entries, and the filing reports only a non‑derivative transfer of common units.

What transaction code was used on the Form 4 and what does it indicate?

The transaction is listed with Transaction Code G, which the form identifies in its table and explanation as a gift of common units to trusts for family members.

Is there an explanation provided for the transfer in the filing?

Yes. The filing includes an explicit explanation: the units were transferred from the reporting person and gifted to trusts for the benefit of family members.