ALLIANCE RESOURCE PARTNERS LP
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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Sep 30, 2026 · Filed Nov 6, 2026
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17. Common Unit-Based Compensation Plan
Long-Term Incentive Plan
A summary of non-vested Long-Term Incentive Plan (“LTIP”) grants of restricted units is as follows:
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Number of units · Weighted average grant date fair value per unit · Intrinsic value | |||||||||
| · · · · · · · (in thousands) · | |||||||||
| | | | | | | | | | |
| Non-vested grants at January 1, 2026 | | 1,192,243 | | $22.58 | | $27,696 | | ||
| Granted (1) | 437,791 | | | 25.80 | | | | | |
| Vested (2) | (400,722) | | 21.54 | | | | | ||
| Forfeited | (93,602) | | 23.38 | | | | | ||
| Non-vested grants at September 30, 2026 | 1,135,710 | | 24.13 | | | 27,586 | | ||
| (1) | The restricted units granted during 2026 have certain minimum-value guarantees per unit, regardless of whether the awards vest. |
| (2) | During the nine months ended September 30, 2026, we issued 230,777 unrestricted common units to the LTIP participants. The remaining vested units were withheld to satisfy tax withholdings. |
LTIP expense for grants of restricted units was $2.4 million and $2.3 million for the three months ended September 30, 2026 and 2025, respectively, and $6.3 million and $6.5 million for the nine months ended September 30, 2026 and 2025, respectively. The total obligation associated with LTIP grants of restricted units as of September 30, 2026 was $14.6 million and is included in the partners’ capitalLimited partners-common unitholders line item on our condensed consolidated balance sheets. As of September 30, 2026, there was $12.8 million in total unrecognized compensation expense related to the non-vested LTIP restricted unit grants that are expected to vest. That expense is expected to be recognized over a weighted-average period of 1.3 years.
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