XNYS:NRP Natural Resources Partners L.P. Insider Activity 4 Filing - 2/14/2012

Effective Date 2/14/2012

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
KARN ROBERT B III
  2. Issuer Name and Ticker or Trading Symbol
NATURAL RESOURCE PARTNERS LP [NRP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
3709 ASCOT BEND COURT
3. Date of Earliest Transaction (Month/Day/Year)
02/14/2012
(Street)

BONITO SPRINGS, FL 34134
4. If Amendment, Date 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
(City)
(State)
(Zip)
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
Common Units               5,000 D  
Common Units               317 I By The Payton Grace Portnoy Irrevocable Trust(1)
Common Units               317 I By The Blake Kristopher Portnoy Irrevocable Trust(1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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(2) (3) (4)             02/28/2012 02/28/2012 Common Units 3,000   3,000 D  
Phantom Units(2) (3) (4)             02/26/2013 02/26/2013 Common Units 3,000   3,000 D  
Phantom Units(2) (3) (4)             02/11/2014 02/11/2014 Common Units 3,000   3,000 D  
Phantom Units(2) (3) (4)             02/10/2015 02/10/2015 Common Units 3,000   3,000 D  
Phantom Units(2) (3) (4) 02/14/2012   A   3,700   02/14/2016 02/14/2016 Common Units 3,700 (3) (4) 3,700 D  
Phantom Units(2) (3) (4) 02/14/2012   A   580   02/10/2015 02/10/2015 Common Units 580 (3) (4) 580 D  
Phantom Units(2) (3) (4) 02/14/2012   A   475   02/11/2014 02/11/2014 Common Units 475 (3) (4) 475 D  
Phantom Units(2) (3) (4) 02/14/2012   A   375   02/26/2013 02/26/2013 Common Units 375 (3) (4) 375 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KARN ROBERT B III
3709 ASCOT BEND COURT
BONITO SPRINGS, FL 34134
  X      

Signatures

 Robert B. Karn III   02/16/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Mr. Karn disclaims beneficial ownership of these securities.
(2) The phantom units were granted to the reporting person under the issuer's long-term incentive plan.
(3) The phantom units will be paid in cash based on the average closing price of the common units for the 20 trading days immediately prior to the date of vesting.
(4) Award includes 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 on vesting.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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XNYS:NRP Natural Resources Partners L.P. Insider Activity 4 Filling

Natural Resources Partners L.P. XNYS:NRP Stock - Get Insider Activity SEC Filing of Natural Resources Partners L.P. XNYS:NRP stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

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XNYS:NRP Natural Resources Partners L.P. Insider Activity 4 Filing - 2/14/2012
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