X0304 4 2012-03-05 0 0001421461 Intrepid Potash, Inc. IPI 0001196791 HONEYFIELD DAVID W C/O INTREPID POTASH, INC. 707 17TH STREET, SUITE 4200 DENVER CO 80202 0 1 0 0 President & CFO Common Stock 2012-03-05 4 A 0 19323 0 A 53071 D Performance Units (TSR) 2012-03-05 4 A 0 4830 0 A Common Stock 4830 4830 D Performance Units (Production) 2012-03-05 4 A 0 4830 0 A Common Stock 4830 4830 D Represents a grant of restricted stock that will vest in three equal annual installments beginning on February 25, 2013, subject to the reporting person's continued employment with the company through the vesting date. Represents 23,140 unrestricted shares of common stock and 29,931 shares of restricted stock. Each performance unit initially represents a contingent right to receive one share of company common stock. The performance units will vest in three equal annual installments beginning on February 25, 2013, subject to the reporting person's continued employment with the company through the vesting date. Upon vesting, each performance unit will be settled in a number of shares of common stock ranging from 0% to 150% of the performance unit depending on the company's relative total shareholder return in 2012 as compared to a group of selected peer companies and an index. The performance units also vest in the event of a qualifying change of control and vest on a limited basis in the case of death or disability. Each performance unit initially represents a contingent right to receive one share of company common stock. The performance units will vest in three equal annual installments beginning on February 25, 2013, subject to the reporting person's continued employment with the company through the vesting date. Upon vesting, each performance unit will be settled in a number of shares of common stock ranging from 0% to 150% of the performance unit depending on the company's actual production results as compared to budget. The performance units also vest in the event of a qualifying change of control and vest on a limited basis in the case of death or disability. The performance units will be forfeited upon a termination of employment for any reason other than death and disability. /s/ Margaret E. McCandless, as attorney-in-fact 2012-03-07