SEC Form 4 · accession 0001140361-18-013465
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
Mar 12, 2018
Accepted (ET)
Mar 14, 2018 · 5:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001421461
Table I — non-derivative securities
No Table I lines on this filing.
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)F1 | $3.90 | Mar 12, 2018 | A | 1,558,185 | A | — | Mar 11, 2028 | Common Stock | 1,558,185 | 1,558,185 | D |
Explanation of responses
- F1Represents a grant of non-qualified stock options. Options with respect to 934,911 of the shares will vest in three equal annual installments beginning on March 12, 2019, 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 company's common stock for 20 consecutive trading days equals or exceeds $5.85 on or before March 11, 2023. If this threshold is not met, these options will be cancelled on March 11, 2023. Options with respect to 623,274 of the shares will vest in three equal annual installments beginning on March 12, 2019, subject to the reporting person's continued employment with the company through the vesting date.