NATURAL RESOURCE PARTNERS LP — Director's Dealing 2021

Mar 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATURAL RESOURCE PARTNERS LP (NRP)
CIK: 0001171486
Period of Report: 2021-03-01

Reporting Person: ROBERTSON CORBIN J III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-01	Common Units	M	4931	—	Acquired	204102	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-01	Phantom Units	$	M	4931	Acquired		Common Units (4931)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Units	19663	Indirect
Common Units	39	Indirect
Common Units	9783	Indirect
Common Units	10000	Indirect

Footnotes

F1: Common units were issued upon conversion of phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, previously awarded in February 2020. Phantom units vested on the one-year anniversary of the grant date and converted into common units on the reporting date. Accrued quarterly distributions made during the vesting period were paid in cash to the reporting person on the reporting date.

F2: The beneficiary of The Corbin James Robertson III 2009 Family Trust is the family of the reporting person. The reporting person is the Trust Advisor for the Corbin James Robertson III 2009 Family Trust and may be deemed to beneficially own the common units owned by the Corbin James Robertson III 2009 Family Trust.

F3: The reporting person disclaims beneficial ownership of these common units, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common units.

F4: The reporting person disclaims beneficial ownership of these common units, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common units.

F5: BHJ Investments, L.P. is a limited partnership of which the reporting person is the manager of the general partner. The limited partners of BHJ Investments, L.P. are the reporting person, his spouse, and a trust formed for the benefit of the reporting person's children in which the reporting person has no pecuniary interest.