Intrepid Potash Files Proxy Supplement

TL;DR

Intrepid Potash (IPI) filed a proxy supplement for their May 16th shareholder meeting. Check it out.

AI Summary

Intrepid Potash, Inc. filed a supplemental proxy statement for its 2024 Annual Meeting of Stockholders scheduled for May 16, 2024. This filing is a definitive additional material, indicating it contains updated or supplementary information for shareholders regarding the meeting.

Why It Matters

This filing provides shareholders with updated information before the annual meeting, allowing them to make informed voting decisions on company matters.

Risk Assessment

Risk Level: low — This is a routine proxy filing providing supplemental information for an upcoming shareholder meeting, not indicating any immediate financial distress or significant operational changes.

Key Players & Entities

• Intrepid Potash, Inc. (company) — Registrant
• May 16, 2024 (date) — Annual Meeting Date

FAQ

Key Financial Figures

• $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 — receive additional cash compensation of $50,000 per month for so long as he is serving

Filing Documents

• tm2412572d1_defa14a.htm (DEFA14A) — 19KB
• tm2412572d1_defa14aimg001.jpg (GRAPHIC) — 21KB
• 0001104659-24-051267.txt ( ) — 48KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 Intrepid Potash, Inc. (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11. INTREPID POTASH, INC. SUPPLEMENT TO DEFINITIVE PROXY STATEMENT AND NOTICE OF ANNUAL MEETING OF STOCKHOLDERS FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 16, 2024 This proxy statement supplement dated April 24, 2024 (the “Supplement”) supplements the definitive proxy statement and notice of annual meeting of stockholders dated April 4, 2024 (the “Proxy Statement”) filed by Intrepid Potash, Inc. (the “Company”) relating to the proxies being solicited by the Board of Directors of the Company (the “Board”) in connection with the Company’s 2024 Annual Meeting of Stockholders to be held on Thursday, May 16, 2024, at 10:00 a.m. Mountain Time in virtual-only format (the “Annual Meeting”). This Supplement describes certain recent changes to the Company’s (i) management team and (ii) Board composition and leadership. This Supplement should be read in conjunction with the Proxy Statement and related proxy materials and replaces and supersedes any inconsistent information set forth in the Proxy Statement. Changes in Management Chief Financial Officer As previously disclosed, on March 25, 2024, Matthew D. Preston, our Chief Financial Officer, informed the Company that he would be leaving his position to pursue another business opportunity, effective April 12, 2024. 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 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. Appointment of Acting Principal Executive Officer On April 16, 2024, the Board granted Robert P. Jornayvaz III, Executive Chairman of the Board and Chief Executive Officer of the Company, a temporary medical leave of absence. In addition, on the same date, the Board appointed Mr. Preston as acting principal executive officer of the Company. Mr. Preston will continue to serve as the Company’s Chief Financial Officer while he concurrently serves as principal financial officer and acting principal executive officer for SEC reporting purposes. In addition to his compensation for his role as Chief Financial Officer, Mr. Preston will receive additional cash compensation of $50,000 per month for so long as he is serving as acting principal executive officer. Other than the changes to his compensation set forth in this Supplement, Mr. Preston’s compensation with the Company remains as previously disclosed. 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. 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. Before joining the Company, Mr. Ingold worked in a variety of accounting roles at various public companies, and he also worked at Deloitte & Touche LLP serving both public and private audit clients in a wide variety of industries. Mr. Ingold is a certified public accountant and a member of the American Institute of Certified Public Accountants. Changes to the Board In connection with the Board granting Mr. Jornayvaz a temporary medical leave of absence on April 16, 2024, the Board temporarily delegated all responsibilities of the Chairman of the Board to Barth Whitham, Lead Director. In addition, on April 16, 2024, the Board, pursuant to the Restated Certificate of Incorporation of the Company and the Amended and Restated Bylaws of the Company, approved an increase of the size of the Board from six directors to seven directors, and, upon the recommendation of the Nominating and Corporate Governance Committee, appoin