SEC Form 4 · accession 0001140361-16-055488
Intrepid Potash, Inc. · IPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kelvin G Feist
Officer — SVP of Sales & Marketing
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 4:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001421461
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 25, 2016 | M | 601 | — | A | 42,207 | D | |
| Common StockF2,F3 | Feb 25, 2016 | F | 5,963 | $2.12 | D | 36,244 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Units (Production)F4 | — | Feb 25, 2016 | M | 766 | D | — | — | Common Stock | 601 | 0 | D |
Explanation of responses
- F1Represents shares issued in settlement of vested performance units (production).
- F2The disposition represents the net share settlement of shares for income tax purposes upon the vesting of previously awarded restricted stock and the vesting and settlement of previously awarded performance units (production).
- F3Represents 17,724 unrestricted shares of common stock and 18,520 shares of restricted stock.
- F4Based on the company's actual production results in 2013 as compared to pre-established goals under the award, the compensation committee of the company's board of directors has certified that each performance unit (production) represents the right to receive 78.5% of a share of company common stock, subject to the award's vesting terms. The award was originally granted on February 25, 2013, and vested in three equal annual installments beginning on February 25, 2014, subject to the reporting person's continued employment with the company through the vesting date.