SEC Form 4 · accession 0001140361-16-085843
Intrepid Potash, Inc. · IPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert P Jornayvaz III
Officer — Exec. Chair, President & CEO · Director · 10% Owner
Period of report
Nov 8, 2016
Accepted (ET)
Nov 10, 2016 · 4:34 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,F2 | Nov 8, 2016 | A | 461,977 | $0.00 | A | 571,840 | D | |
| Common StockF3 | holding | — | — | — | 11,734,122 | I | By Intrepid Production Corporation |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (option to purchase)F4 | $1.03 | Nov 8, 2016 | A | 600,000 | A | — | Nov 7, 2026 | Common Stock | 600,000 | 600,000 | D |
Explanation of responses
- F1Represents a grant of restricted stock that will vest in four equal annual installments beginning on November 8, 2017, subject to the reporting person's continued employment with the company through the vesting date; provided, however, that no vesting will occur unless and until the closing market price of the company's common stock equals $2.06 on 20 consecutive days on or before November 7, 2021. If this price is not met for 20 consecutive days on or before November 7, 2021, the restricted stock will be forfeited on November 7, 2021.
- F2Represents 92,562 unrestricted shares of common stock and 479,278 shares of restricted stock.
- F3Mr. Jornayvaz is the sole stockholder, sole director, and President of Intrepid Potash Corporation.
- F4Represents a grant of non-qualified stock options that will vest in four equal annual installments beginning on November 8, 2017, subject to the reporting person's continued employment with the company through the vesting date; provided, however, that no vesting will occur unless and until the closing market price of the company's common stock equals $2.06 on 20 consecutive days on or before November 7, 2021. If this price is not met for 20 consecutive days on or before November 7, 2021, the stock option will be cancelled on November 7, 2021.