Crutchfield Kevin S 4

What Happened

• Kevin S. Crutchfield, CEO of Intrepid Potash, received 2,038 shares upon conversion of performance restricted stock units (PSUs) on June 4, 2026. The PSU conversion shows an exercise/conversion price of $0.00 (code M), indicating these were earned equity awards rather than option purchases.
• To satisfy tax withholding on the vesting, 754 of those shares were withheld (code F) at an implied value of $37.18 per share, totaling $28,034. No cash was paid to acquire the shares.

Key Details

• Transaction date: June 4, 2026; Form 4 filed June 8, 2026 (timely).
• Shares converted/issued: 2,038 (reported as conversion of PSUs).
• Shares withheld for taxes: 754 shares at $37.18 = $28,034.
• Award background: PSUs were originally granted March 17, 2025 and are earned based on absolute total stockholder return (aTSR). The filing reports PSUs at the maximum level of aTSR achievement (see footnote). Earned PSUs are subject to additional time-vesting: one-half vest immediately and the remaining one-half vests one year after the aTSR threshold is met.
• Transaction codes: M = exercise/conversion of derivative (PSU conversion); F = shares withheld for tax withholding.
• Shares owned after the transaction: not specified in the filing.

Context

• This was not an open-market purchase or sale for cash—Crutchfield received shares as earned equity compensation and had a portion withheld to cover taxes (a routine administrative action).
• PSUs are performance-based awards; reporting at the maximum aTSR level means the filing shows the largest number that could be earned under the plan, subject to the stated time-vesting.
• Such withholding for taxes is common and does not by itself indicate the insider’s view on the company’s stock.