FFHL Form 4 Intrepid Potash / V PREM ET AL WATSA ownership change

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

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

1. Name and Address of Reporting Person^*

FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2018

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

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

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

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	05/01/2018		S		1,057,269(1)	D	$4.4502(1)	15,609,398	I	See note(4)
Common Stock	05/02/2018		S		688,505(2)	D	$4.5047(2)	14,920,893	I	See note(4)
Common Stock	05/03/2018		S		347,231(3)	D	$4.3706(3)	14,573,662	I	See note(4)

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

1. Name and Address of Reporting Person^*

FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

WATSA V PREM ET AL

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

FFHL GROUP LTD

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

1109519 ONTARIO LTD

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

SIXTY TWO INVESTMENT CO LTD

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

810679 ONTARIO LTD

(Last) (First) (Middle)

95 WELLINGTON ST WEST, SUITE 800

(Street)

TORONTO A6 M5J 2N7

(City) (State) (Zip)

Explanation of Responses:

1. The amount in this column represents 952,000 shares sold by Odyssey Reinsurance Company and 105,269 shares sold by FFHL Master Trust. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.45 to $4.49 inclusive. Upon request, the reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the Securities and Exchange Commission (the "SEC") full information regarding the shares sold at each separate price within the range set forth in this footnote.

2. The amount in this column represents 619,700 shares sold by Odyssey Reinsurance Company and 68,805 shares sold by FFHL Master Trust. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.40 to $4.65 inclusive. Upon request, the reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the SEC full information regarding the shares sold at each separate price within the range set forth in this footnote.

3. The amount in this column represents 312,500 shares sold by Odyssey Reinsurance Company and 34,731 shares sold by FFHL Master Trust. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.35 to $4.45 inclusive. Upon request, the reporting persons undertake to provide the Issuer, any security holder of the Issuer, or the SEC full information regarding the shares sold at each separate price within the range set forth in this footnote.

4. After giving effect to the transactions reported on this Form 4, 5,615,800 shares are owned directly by Odyssey Reinsurance Company, and 7,500,000 shares are owned directly by Brit Insurance (Gibraltar) PCC Limited, each of which is an indirect subsidiary of FFHL Group Limited, which is a subsidiary of Fairfax Financial Holdings Ltd. 1,458,862 shares are owned directly by FFHL Master Trust, which is controlled by Fairfax Financial Holdings Ltd. V. Prem Watsa is the CEO and controlling person of Fairfax Financial Holdings Ltd. Each of the reporting persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that the reporting persons are beneficial owners for the purpose of Section 16 of the Exchange Act, or for any other purpose.

	/s/ Paul Rivett, President, on behalf of Fairfax Financial Holdings Ltd.	05/03/2018
	/s/ V. Prem Watsa	05/03/2018
	/s/ Paul Rivett, Director, on behalf of FFHL Group Ltd.	05/03/2018
	/s/ V. Prem Watsa, President, on behalf of 1109519 Ontario Limited	05/03/2018
	/s/ V. Prem Watsa, President, on behalf of The Sixty Two Investment Company Limited	05/03/2018
	/s/ V. Prem Watsa, President, on behalf of 810679 Ontario Limited	05/03/2018
	** Signature of Reporting Person	Date
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