John A. Gallegos Jr. - 01 Oct 2021 Form 4 Insider Report for Independence Contract Drilling, Inc.

Role: PRESIDENT & CEO, Director
Signature: /s/ Philip A. Choyce, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 01 Oct 2021
Net transactions value: $0
Form type: 4
Filing time: 04 Oct 2021, 15:17:20 UTC
Next filing: 28 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ICD	Common Stock	Options Exercise		+2,972	+7.5%		42,370	01 Oct 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ICD	Restricted Stock Units	Options Exercise		-2,972	-23%		9,722	01 Oct 2021	Common Stock		$0.000000	Direct	F1
transaction	ICD	Restricted Stock Units	Tax liability		-957	-9.8%		8,765	01 Oct 2021	Common Stock			Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person received a restricted stock unit award, subject to a three-year vesting schedule, vesting 1/3 on the first anniversary of the date of grant, 1/3 on the second anniversary of the date of grant, and 1/3 on the third anniversary of the date of grant. ICD will settle vested RSU's within 30 days of the date that such RSU's vest.