<SEC-DOCUMENT>0001567619-21-005378.txt : 20210302
<SEC-HEADER>0001567619-21-005378.hdr.sgml : 20210302
<ACCEPTANCE-DATETIME>20210302163537
ACCESSION NUMBER:		0001567619-21-005378
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210301
FILED AS OF DATE:		20210302
DATE AS OF CHANGE:		20210302

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Craig Kevin J
		CENTRAL INDEX KEY:			0001322654

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31465
		FILM NUMBER:		21704275

	MAIL ADDRESS:	
		STREET 1:		PO BOX 2827
		CITY:			HUNTINGTON
		STATE:			WV
		ZIP:			25727

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <documentType>4</documentType>

    <periodOfReport>2021-03-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001171486</issuerCik>
        <issuerName>NATURAL RESOURCE PARTNERS LP</issuerName>
        <issuerTradingSymbol>NRP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001322654</rptOwnerCik>
            <rptOwnerName>Craig Kevin J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5260 IRWIN ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HUNTINGTON</rptOwnerCity>
            <rptOwnerState>WV</rptOwnerState>
            <rptOwnerZipCode>25705</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>8694</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>9644</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Units</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>3204</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.63</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6440</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
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            <transactionDate>
                <value>2021-03-01</value>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4990</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Units</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4990</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
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                <value>2021-03-01</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3704</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
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            <exerciseDate>
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            <expirationDate>
                <footnoteId id="F3"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Units</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3704</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7408</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Common units were issued upon conversion of phantom units previously awarded under the issuer's long-term incentive plan (&quot;LTIP&quot;) as  further described in notes (2) and (3) below.</footnote>
        <footnote id="F2">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 2018 under the issuer's LTIP.   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.</footnote>
        <footnote id="F3">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 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 2020 award will vest in substantially equal installments on the second and third anniversaries of the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kevin J. Craig</signatureName>
        <signatureDate>2021-03-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
