CNX Resources Corp — Director's Dealing 2017

Oct 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CNX Coal Resources LP (CNXC)
CIK: 0001637558
Period of Report: 2017-10-02

Reporting Person: CONSOL Energy Inc (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-10-02	COMMON UNITS (LIMITED PARTNER INTERESTS)	M	3956496	—	Acquired	5006496	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-10-02	CLASS A PREFERRED UNITS (LIMITED PARTNER INTERESTS)	$	M	3956496	Disposed		COMMON UNITS (3956496)	Direct

Footnotes

F1: Each Class A Preferred Unit is convertible into one common unit representing limited partnership interests in the Issuer (the "Common Units"), at the election of CONSOL Energy Inc. ("CONSOL" or the "Reporting Person"), (i) at any time after September 30, 2017, (ii) with respect to any dissolution or liquidation of the Issuer pursuant to the Issuer's Partnership Agreement occurring prior to September 30, 2017, as of the business day immediately prior to the effective date of such dissolution or liquidation and (iii) with respect to a Class A Preferred Unit Change of Control (as defined in the Issuer's Partnership Agreement),

F2: (Continued from footnote 1) as of the business day immediately prior to the record date or effective date, as applicable, of such Class A Preferred Unit Change of Control. All, but not less than all, of the outstanding Class A Preferred Units are convertible at the election of the Issuer into Common Units on a one-for-one basis, on or after September 30, 2019, subject to certain conditions set forth in the Issuer's Partnership Agreement. The Class A Preferred Units have no expiration date.

F3: On October 2, 2017, CONSOL elected to convert all of its Class A Preferred Units into Common Units and, in accordance with the Issuer's Partnership Agreement, the Issuer issued an aggregate of 3,956,496 Common Units to CONSOL. Following the conversion of the Class A Preferred Units into Common Units, no Class A Preferred Units were outstanding.

F4: CONSOL is the direct holder of limited partnership interests in the Issuer. CONSOL is also the sole owner of the membership interests of CNX Coal Resources GP LLC, the general partner of the Issuer (the "General Partner"). The General Partner owns a 1.71% general partner interest in the Issuer.