Intrepid Potash (IPI) CEO exercises performance stock units with tax withholding

Rhea-AI Filing Summary

Intrepid Potash, Inc. Chief Executive Officer Kevin S. Crutchfield reported routine equity compensation activity involving performance-based stock units. On 2026-06-04, he exercised performance restricted stock units tied to absolute total stockholder return, acquiring 2,038 shares of common stock at a stated price of $0.0000 per share.

To cover tax obligations triggered by the vesting of these units, 754 common shares were withheld by the company, classified as a tax-withholding disposition rather than an open-market sale. After these transactions, Crutchfield directly held 109,127 shares of common stock, reflecting a modest net increase in his direct ownership from equity awards.

Insights

Equity Compensation Analyst

CEO’s filing shows routine PSU vesting with tax withholding and a small net share increase.

The transactions reflect performance restricted stock units earned based on absolute total stockholder return. Kevin S. Crutchfield exercised 2,038 PSUs into common stock, a standard mechanism for delivering long-term incentive compensation when performance targets are met.

Of the shares delivered, 754 were withheld to satisfy tax obligations, which is a non-market disposition and does not represent an open-market sale decision. Following these entries, Crutchfield directly holds 109,127 common shares, indicating a minor net increase in equity exposure and suggesting routine compensation rather than a directional bet on the stock.

Insider Trade Summary

2,038 shares exercised/converted

Mixed 3 txns

Insider Crutchfield Kevin S

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Performance Restricted Stock Unit	2,038	$0.00	--
Exercise	Common Stock	2,038	$0.00	--
Tax Withholding	Common Stock	754	$37.18	$28K

Holdings After Transaction: Performance Restricted Stock Unit — 12,232 shares (Direct, null); Common Stock — 109,127 shares (Direct, null)

Footnotes (1)

1. Represents shares earned upon achievement of certain levels of absolute total stockholder return (aTSR) under Performance Restricted Stock Units ("PSUs") originally granted on March 17, 2025. See footnote 3 below. Represents shares withheld by the issuer to cover the tax witholding obligations upon vesting of PSUs. Each PSU represents the contingent right to receive one share of the issue'rs common stock upon the applicable vesting conditions. The PSUs are earned based on certain levels of absolute total stockholder return (aTSR) on or prior to March 17, 2029. Earned PSU's are subject to additional time-vesting, with one-half of the earned PSUs vesting immediately and the remaining one-half vesting on the one-year anniversary of the date the PSU aTSR threshold was achieved. The PSUs are reported at the maximum level of aTSR achievement.

Key Figures

PSUs exercised into common stock: 2,038 shares Shares withheld for taxes: 754 shares CEO common shares after transactions: 109,127 shares +2 more

5 metrics

PSUs exercised into common stock 2,038 shares Performance restricted stock units converted on 2026-06-04

Shares withheld for taxes 754 shares Tax-withholding disposition on PSU vesting

CEO common shares after transactions 109,127 shares Direct ownership following 2026-06-04 entries

PSU exercise price $0.0000 per share Stated price on derivative exercise

Tax-withheld share value reference $37.18 per share Price used for 754-share tax-withholding entry

Key Terms

Performance Restricted Stock Unit, absolute total stockholder return (aTSR), tax-withholding disposition, derivative exercise/conversion, +1 more

5 terms

Performance Restricted Stock Unit financial

"security_title: "Performance Restricted Stock Unit""

absolute total stockholder return (aTSR) financial

"earned upon achievement of certain levels of absolute total stockholder return (aTSR)"

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion""

time-vesting financial

"Earned PSU's are subject to additional time-vesting"

Time-vesting is a schedule that gives someone the right to a stock option, restricted share, or other award gradually over a set period rather than all at once; the recipient only “earns” portions of the grant as time passes. For investors, time-vesting matters because it affects when new shares can enter the market, how long employees have incentives to stay and perform, and the timing of potential dilution or insider selling—think of it like receiving paychecks of ownership instead of a lump-sum grant.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Crutchfield Kevin S

(Last) (First) (Middle)

707 17TH STREET, SUITE 4200

(Street)

DENVER COLORADO 80202

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Intrepid Potash, Inc. [ IPI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/04/2026		M		2,038(1)	A	$0.0000	109,127	D
Common Stock	06/04/2026		F		754(2)	D	$37.18	108,373	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Restricted Stock Unit	$0.0000	06/04/2026		M			2,038	(3)	03/17/2029	Common Stock	2,038	$0.0000	12,232	D

Explanation of Responses:

1. Represents shares earned upon achievement of certain levels of absolute total stockholder return (aTSR) under Performance Restricted Stock Units ("PSUs") originally granted on March 17, 2025. See footnote 3 below.

2. Represents shares withheld by the issuer to cover the tax witholding obligations upon vesting of PSUs.

3. Each PSU represents the contingent right to receive one share of the issue'rs common stock upon the applicable vesting conditions. The PSUs are earned based on certain levels of absolute total stockholder return (aTSR) on or prior to March 17, 2029. Earned PSU's are subject to additional time-vesting, with one-half of the earned PSUs vesting immediately and the remaining one-half vesting on the one-year anniversary of the date the PSU aTSR threshold was achieved. The PSUs are reported at the maximum level of aTSR achievement.

	/s/ Christina Sheehan, as attorney-in-fact	06/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Intrepid Potash (IPI) report for its CEO?

Intrepid Potash reported that CEO Kevin S. Crutchfield exercised 2,038 performance restricted stock units into common shares, with 754 shares withheld to cover tax obligations. These entries reflect routine equity compensation rather than open-market buying or selling activity.

Did the Intrepid Potash (IPI) CEO buy or sell shares on the open market?

The CEO did not report any open-market purchases or sales. Instead, 2,038 shares were issued from performance restricted stock units and 754 shares were withheld by the company for taxes, a non-market disposition commonly associated with vesting equity awards.

How many Intrepid Potash (IPI) shares does the CEO hold after this Form 4?

After these transactions, CEO Kevin S. Crutchfield directly holds 109,127 shares of Intrepid Potash common stock. This total reflects the net effect of PSU vesting and tax withholding, indicating a modest increase in his direct equity stake in the company.

What are performance restricted stock units (PSUs) in the Intrepid Potash (IPI) filing?

The PSUs are awards that convert into common shares if absolute total stockholder return meets specified levels by March 17, 2029. Earned PSUs then vest over time, with half vesting immediately and half one year after the performance threshold is achieved, aligning pay with shareholder returns.

Why were 754 Intrepid Potash (IPI) shares labeled as a tax-withholding disposition?

The 754 shares were withheld by the issuer to cover tax obligations triggered when PSUs vested. This is recorded as a tax-withholding disposition (code F), meaning the shares satisfied tax liabilities rather than being sold in the open market for investment purposes.