John A. Gallegos Jr. - 27 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: 27 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 01 Mar 2022, 12:04:04 UTC
Previous filing: 14 Feb 2022
Next filing: 21 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	Award		+1,691	+4%		44,061	27 Feb 2022	Direct	F1
transaction	ICD	Common Stock	Options Exercise		+3,417	+7.8%		47,478	27 Feb 2022	Direct	F2
transaction	ICD	Common Stock	Tax liability		-1,515	-3.2%		45,963	27 Feb 2022	Direct	F3

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		-3,417	-46%		3,959	27 Feb 2022	Common Stock	3,417		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents number of shares issued upon vesting of a performance award
F2	The Reporting Person received was granted a restricted stock unit that vested on February 27, 2022. Each RSU entitled the reporting person to receive one share of common stock
F3	Represents the number of shares of common stock withheld by the Company to satisfy tax withholding requirements in connection with the PSU and RSU vesting.