John A. Gallegos Jr. - 10 Feb 2022 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: 10 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 14 Feb 2022, 15:29:56 UTC
Previous filing: 28 Dec 2021
Next filing: 01 Mar 2022
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		+7,376	+17%		49,746	10 Feb 2022	Direct	F1
holding	ICD	Common Stock						42,370	10 Feb 2022	Direct

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		-7,376	-50%		7,376	10 Feb 2022	Common Stock	7,376		Direct	F1
transaction	ICD	Phantom Stock Unit	Options Exercise		-3,688	-50%		3,688	10 Feb 2022	Common Stock	3,688		Direct	F2

* 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 on 2.10.20 that vested on 2.10.22. All RSUs were settled in shares of common stock
F2	The reporting person was granted a restricted stock unit on 2/10/20 that vested on 2/10/22. Each RSU is the cash equivalent of one share of common stock. All RSUs are settled in cash.