# EDGAR Filing Document

**Accession Number:** 0001635057
**File Stem:** 0001567619-23-003207
**Filing Date:** 2023-2
**Character Count:** 7823
**Document Hash:** 422eb63cbaba7ce8ffdf3b012ef3792f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001567619-23-003207.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0001567619-23-003207

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230215

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Zolas Christopher
- **CENTRAL INDEX KEY:** 0001635057

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31465
- **FILM NUMBER:** 23639474

**MAIL ADDRESS:**
- **STREET 1:** 601 JEFFERSON STREET
- **STREET 2:** SUITE 3600
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATURAL RESOURCE PARTNERS LP
- **CENTRAL INDEX KEY:** 0001171486
- **STANDARD INDUSTRIAL CLASSIFICATION:** BITUMINOUS COAL & LIGNITE SURFACE MINING [1221]
- **IRS NUMBER:** 352164875
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1201 LOUISIANA STREET, SUITE 3400
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002
- **BUSINESS PHONE:** 713-751-7507

**MAIL ADDRESS:**
- **STREET 1:** 1201 LOUISIANA STREET, SUITE 3400
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>Zolas Christopher<br><sub>(Last) (First) (Middle)</sub><br>1415 LOUISIANA STREET<br>SUITE 3325<br><sub>(Street)</sub><br>HOUSTON, TX 77002<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-15 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_CFO and Treasurer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>NATURAL RESOURCE PARTNERS LP [ NRP ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Units | 2023-02-15 |  | M |  | 19743 | A | <sup>(1)</sup> | 28647 | D |  |
| Common Units | 2023-02-15 |  | F |  | 478 | D | $54.08 | 28169 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Phantom Units | <sup>(2)</sup> | 2023-02-15 |  | M |  | 5368 |  | <sup>(2)</sup> | <sup>(2)</sup> | Common Units | 5368 | <sup>(2)</sup> | 0 | D |  |
| Phantom Units | <sup>(3)</sup> | 2023-02-15 |  | M |  | 7944 |  | <sup>(3)</sup> | <sup>(3)</sup> | Common Units | 7944 | <sup>(3)</sup> | 7945 | D |  |
| Phantom Units | <sup>(4)</sup> | 2023-02-15 |  | M |  | 6431 |  | <sup>(4)</sup> | <sup>(4)</sup> | Common Units | 6431 | <sup>(4)</sup> | 12864 | D |  |

---

### Footnotes:

(1) Common units were issued upon conversion of phantom units previously awarded under the issuer's long-term incentive plan ("LTIP") as  further described in notes (2), (3) and (4) below.

(2) Phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, were awarded in February 2020 under the issuer's LTIP.   One-third of the phantom units vested on the third 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.

(3) Phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, were awarded in February 2021 under the issuer's LTIP.   One-third of the phantom units vested on the second 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.  The remaining phantom units under the 2021 award will vest on the third anniversary of the grant date.

(4) Phantom units representing the right to receive common units on a one-for-one basis, together with tandem distribution equivalent rights, were awarded in February 2022 under the issuer's LTIP.   One-third of the phantom units vested on the first 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.  The remaining phantom units under the 2022 award will vest in substantially equal installments on the second and third anniversaries of the grant date.

**Signature:** /s/ Christopher Zolas  
**Date:** 2023-02-16

### Remarks:

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.**