SEC Form 4 · accession 0001140361-17-023875
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
Jun 4, 2017
Accepted (ET)
Jun 6, 2017 · 7:09 am EDT
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 | Jun 4, 2017 | A | 641,260 | $0.00 | A | 1,206,650 | D | |
| Common StockF2 | holding | — | — | — | 18,097,922 | 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)F3 | $2.29 | Jun 4, 2017 | A | 513,698 | A | — | Jun 3, 2027 | Common Stock | 513,698 | 513,698 | D |
Explanation of responses
- F1Represents a grant of restricted stock that will vest in three equal annual installments beginning on June 4, 2018, subject to the reporting person's continued employment with the company through the vesting date; provided, however, that, with respect to one-third of the shares, no vesting will occur unless and until the volume-weighted average closing price of the Corporation's common stock for 20 consecutive trading days equals or exceeds $3.44 on or before June 3, 2022. If this threshold is not met, one-third of the shares will be forfeited on June 3, 2022.
- F2Mr. Jornayvaz is the sole stockholder, sole director, and President of Intrepid Production Corporation.
- F3Represents a grant of non-qualified stock options that will vest in three equal annual installments beginning on June 4, 2018, 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 volume-weighted average closing price of the Corporation's common stock for 20 consecutive trading days equals or exceeds $3.44 on or before June 3, 2022. If this threshold is not met, the stock option will be cancelled on June 3, 2022.