0001209191-21-071431.txt : 20211228 0001209191-21-071431.hdr.sgml : 20211228 20211228194150 ACCESSION NUMBER: 0001209191-21-071431 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211223 FILED AS OF DATE: 20211228 DATE AS OF CHANGE: 20211228 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Jornayvaz Robert P III CENTRAL INDEX KEY: 0001432504 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34025 FILM NUMBER: 211525967 MAIL ADDRESS: STREET 1: 1001 17TH STREET, SUITE 1050 CITY: DENVER STATE: CO ZIP: 80202 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Intrepid Potash, Inc. CENTRAL INDEX KEY: 0001421461 STANDARD INDUSTRIAL CLASSIFICATION: MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400] IRS NUMBER: 261501877 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1001 17TH STREET STREET 2: SUITE 1050 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 303-296-3006 MAIL ADDRESS: STREET 1: 1001 17TH STREET STREET 2: SUITE 1050 CITY: DENVER STATE: CO ZIP: 80202 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2021-12-23 0 0001421461 Intrepid Potash, Inc. IPI 0001432504 Jornayvaz Robert P III C/O INTREPID POTASH, INC. 1001 17TH STREET, SUITE 1050 DENVER CO 80202 1 1 1 0 Executive Chairman & CEO Common Stock 2021-12-23 4 A 0 43839 0.00 A 358311 D Common Stock 2021-12-23 4 A 0 48305 0.00 A 406616 D Common Stock 1720923 I By Intrepid Production Corporation Represents a grant of restricted stock. The shares of restricted stock will vest in three equal installments on December 23, 2022, March 11, 2023 and March 11, 2024, subject, in each case, to the reporting person's continued service with the issuer through the vesting date. Represents a grant of performance-based restricted stock ("PSAs"), which PSAs will vest as set forth in Exhibit 99.The PSAs reported are at 150% of the target amount. Mr. Jornayvaz is the sole stockholder, sole director, and President of Intrepid Production Corporation. /s/ Matthew D. Preston, as attorney-in-fact 2021-12-28 EX-99 2 attachment1.htm EX-99 DOCUMENT

The number of PSAs earned is based on the achievement of total shareholder
return (TSR) over a four-year performance period ending December 23, 2025
measured quarterly at the end each such quarter for the first four years
following the grant date, and the number of shares earned may range from 0%
to 150%. The PSAs are earned based on the volume-weighted average closing
price (VWAP) of the common stock for 20 consecutive trading days, measured
as the end of each applicable fiscal quarter, as reported on the New York
Stock Exchange or other national securities exchange or national market on
which the stock is principally traded, and a TSR compound annual growth
rate (CAGR) of the issuer's common stock using a starting price of $43.34,
as adjusted for dividends as follows: (i) 50.0% of the PSAs are earned upon
TSR CAGR achievement of 2.5%, (ii) 75.0% of the PSAs are earned upon TSR CAGR
achievement of 5.0%, (iii) 100.0% of the PSAs are earned upon TSR CAGR
achievement of 7.5%, (iv) 112.5% of the PSAs are earned upon TSR CAGR
achievement of 10.0%, (v) 125.0% of the PSAs are earned upon TSR CAGR
achievement of 12.5%, (vi) 137.5% of the PSAs are earned upon TSR CAGR
achievement of 15.0% and (vii) 150.0% of the PSAs are earned upon
TSR CAGR achievement of 17.5%.

Any amount earned upon each quarterly measurement shall vest as follows:
50% on the one-year anniversary of the end of the applicable measurement period,
and 50% on the two-year anniversary of the end of the applicable measurement
period; provided, however, that no vesting will occur unless and until the VWAP
meets one or more applicable price achievement goals as set forth above on or
before December 23, 2025, subject in all cases to continuous service with the
issuer or an affiliate of the issuer from the grant date through the applicable
vesting date, if any; provided further, that the earliest date on which the
maximum amount of the target number of PSAs may vest shall be the 25-month
anniversary of the grant date, and latest date on which any amount of the target
may vest shall be the 6-year anniversary of the grant date. Any shares that do
not vest on or before the 6-year anniversary of the grant date, will be
immediately forfeited on the 6-year anniversary of the grant date.