Natural Resource Partners (NRP) EVP awarded 1,238 phantom units as equity pay

Rhea-AI Filing Summary

Natural Resource Partners executive vice president Gregory F. Wooten received an award of 1,238 phantom units on February 4, 2026 under the company’s 2017 Long-Term Incentive Plan. Each phantom unit will convert into one common unit when it vests.

The phantom units vest in three substantially equal annual installments beginning on February 4, 2027. The award also includes tandem distribution equivalent rights, meaning quarterly partnership distributions on these units will accrue during the vesting period and be paid in cash when the units vest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider WOOTEN GREGORY F

Role Executive Vice President

Type	Security	Shares	Price	Value
Grant/Award	PHANTOM UNITS	1,238	$0.00	--

Holdings After Transaction: PHANTOM UNITS — 1,238 shares (Direct)

Footnotes (1)

1. Represents phantom units awarded under the issuer's 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit upon vesting and includes the right to receive 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 in cash upon vesting. The phantom units will vest in three substantially equal annual installments beginning on February 4, 2027.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

WOOTEN GREGORY F

(Last) (First) (Middle)

175 IRWIN RD

(Street)

HUNTINGTON WV 25705

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2026

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

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
PHANTOM UNITS(1)	(1)	02/04/2026		A		1,238		(2)	(2)	COMMON UNITS	1,238	$0	1,238	D

Explanation of Responses:

1. Represents phantom units awarded under the issuer's 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit upon vesting and includes the right to receive 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 in cash upon vesting.

2. The phantom units will vest in three substantially equal annual installments beginning on February 4, 2027.

	/s/ Gregory F Wooten	02/06/2026
	** 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 insider transaction did NRP report for Gregory F. Wooten?

Natural Resource Partners reported that executive vice president Gregory F. Wooten received an award of 1,238 phantom units. These were granted on February 4, 2026 under the partnership’s 2017 Long-Term Incentive Plan as part of his equity-based compensation.

How many phantom units did NRP grant to its executive vice president?

Gregory F. Wooten was granted 1,238 phantom units. Each phantom unit represents the right to receive one common unit upon vesting, giving him potential future equity tied directly to Natural Resource Partners’ common units over time.

When do Gregory F. Wooten’s NRP phantom units vest?

The phantom units begin vesting on February 4, 2027. They will vest in three substantially equal annual installments, spreading the vesting over three years and aligning the executive’s incentives with longer-term partnership performance.

What do NRP phantom units represent for the holder?

Each phantom unit represents the right to receive one Natural Resource Partners common unit upon vesting. They track the value of common units and convert into actual equity over time, functioning as a form of long-term incentive compensation.

Do NRP phantom units include distribution equivalent rights?

Yes. The phantom units include tandem distribution equivalent rights, so quarterly distributions paid on common units are accrued during vesting and paid in cash when the phantom units vest, mirroring the partnership’s regular distribution stream.

Was the NRP phantom unit grant to Gregory F. Wooten a purchase or a compensation award?

The transaction was a compensation award of phantom units, not an open-market purchase. It was granted under Natural Resource Partners’ 2017 Long-Term Incentive Plan as part of the executive’s equity-based incentive package.