Vincent J. Cebula - Mar 18, 2022 Form 4/A - Amendment Insider Report for Independence Contract Drilling, Inc. (ICD)

Role: Director
Signature: /s/ Philip A. Choyce, Attorney-in-Fact
Stock symbol: ICD
Transactions as of: Mar 18, 2022
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 3/21/2022, 07:51 PM
Date Of Original Report: Mar 21, 2022
Previous filing: Jan 11, 2022
Next filing: Apr 13, 2022

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 Unit	Award		+24.8K			24.8K	Mar 18, 2022	Common Stock	24.8K		Direct	F1
transaction	ICD	Restricted Stock Unit	Award		+24.8K	+100%		49.5K	Mar 18, 2022	Common Stock	24.8K		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 was granted a restricted stock unit (RSU) upon appointment to the Company's Board of Directors that vests in equal 1/3 installments on the first, second and third anniversaries of the date of grant. Each RSU entitles the reporting person to receive one share of commons tock upon vesting.
F2	The reporting person received an annual grant of RSUs as a director of the Company that vest on the one year anniversary of the date of grant. One-third of the RSU's will be settled in cash, 2/3 will be settled in shares of common stock. The grant of RSU's is subject to approval of an amendment to increase the number of shares authorized under the Company's 2019 LTIP Plan at the 2022 Annual Meeting of Stockholders.

Content

The reporting person was granted a restricted stock unit (RSU) upon appointment to the Company's Board of Directors that vests in equal 1/3 installments on the first, second and third anniversaries of the date of grant. Each RSU entitles the reporting person to receive one share of commons tock upon vesting.

The reporting person received an annual grant of RSUs as a director of the Company that vest on the one year anniversary of the date of grant. One-third of the RSU's will be settled in cash, 2/3 will be settled in shares of common stock. The grant of RSU's is subject to approval of an amendment to increase the number of shares authorized under the Company's 2019 LTIP Plan at the 2022 Annual Meeting of Stockholders.