Intrepid Potash Names New CFO, Elects Directors

TL;DR

Intrepid Potash shakes up leadership: new CFO Brian Adams, directors Johnson & MacLeod join the board.

AI Summary

Intrepid Potash, Inc. announced on April 5, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David L. Johnson and David A. S. MacLeod, and appointed a new Chief Financial Officer, Brian T. Adams. These changes are effective immediately and are part of the company's ongoing corporate governance and financial leadership adjustments.

Why It Matters

Changes in key leadership roles like CFO and board composition can signal shifts in company strategy, financial management, or operational focus, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in executive and board positions can introduce uncertainty regarding future strategy and financial oversight, potentially impacting the company's stability and performance.

Key Players & Entities

• Intrepid Potash, Inc. (company) — Registrant
• David L. Johnson (person) — Newly elected director
• David A. S. MacLeod (person) — Newly elected director
• Brian T. Adams (person) — Newly appointed Chief Financial Officer
• April 5, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share IPI New York Stock Exchan
• $390,000 — ve an increase in annual base salary to $390,000 and a grant of restricted stock valued
• $300,000 — d a grant of restricted stock valued at $300,000, which vests in three equal annual inst
• $50,000 — nsation: (i) an aggregate cash bonus of $50,000, with $25,000 payable in the next regul
• $25,000 — n aggregate cash bonus of $50,000, with $25,000 payable in the next regular payroll per
• $100,000 — 1, 2024; (ii) a cash retention bonus of $100,000 payable after April 12, 2025; (iii) a g
• $150,000 — ) a grant of restricted stock valued at $150,000, which vests in three equal annual inst

Filing Documents

• tm2411630d1_8k.htm (8-K) — 27KB
• 0001104659-24-046356.txt ( ) — 198KB
• ipi-20240405.xsd (EX-101.SCH) — 3KB
• ipi-20240405_lab.xml (EX-101.LAB) — 33KB
• ipi-20240405_pre.xml (EX-101.PRE) — 22KB
• tm2411630d1_8k_htm.xml (XML) — 4KB

02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer . Continuation of Chief Financial Officer As previously announced, Matthew Preston, current Chief Financial Officer of Intrepid Potash, Inc. (the "Company"), informed the Company that he would be leaving his position to pursue another business opportunity effective April 12, 2024. After further discussion and negotiation with the Company, on April 10, 2024, Mr. Preston notified the Company of his decision to stay with the Company, continuing in his role as Chief Financial Officer of the Company, including as principal financial officer under Securities and Exchange Commission ("SEC") rules and regulations. As part of his decision to stay with the Company, Mr. Preston will receive an increase in annual base salary to $390,000 and a grant of restricted stock valued at $300,000, which vests in three equal annual installments beginning on April 10, 2025, subject to continued service with the Company. Other than these changes, Mr. Preston's compensation with the Company remains as previously disclosed. The information with respect to Mr. Preston's background as required by Items 401(b), (d), (e) and Item 404(a) of Regulation S-K is set forth in the Company's Definitive Proxy Statement for its 2024 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on April 4, 2024 , and is incorporated herein by reference. Appointment of Chief Accounting Officer On April 5, 2024, the Board promoted Cris Ingold to Chief Accounting Officer of the Company, effective April 12, 2024. In this position, Mr. Ingold will serve as the Company's principal accounting officer under SEC rules and regulations. Mr. Ingold, age 59, has served as the Company's Corporate Controller since November 2019. Previously, Mr. Ingold served in successively more senior accounting roles since joining the Company in 2011. Be

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. INTREPID POTASH, INC. (Registrant) Dated: April 11, 2024 By: /s/ Christina C. Sheehan Name: Christina C. Sheehan Title: General Counsel and Secretary