Kathrine Kokenes - Mar 18, 2022 Form 4 Insider Report for Independence Contract Drilling, Inc. (ICD)

Signature
/s/ Philip A. Choyce, Attorney-in-Fact
Stock symbol
ICD
Transactions as of
Mar 18, 2022
Transactions value $
$0
Form type
4
Date filed
3/21/2022, 09:25 PM
Previous filing
Mar 1, 2022
Next filing
Feb 14, 2023

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 Award +49.8K +23252.8% 50K Mar 18, 2022 Common Stock 49.8K Direct F1
transaction ICD Stock Appreciation Right Award +74.6K +45.83% 238K Mar 18, 2022 Common Stock 74.6K $5.19 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reporting person was granted an RSU that vests in 1/3 increments on (i) the one year anniversary of the date of grant, (ii) 12/31/23 and (iii) 12/31/24. The RSUs are subject to approval by the Company's stockholders of an amendment to increase the shares authorized for issuance under the Company's 2019 LTIP Plan.
F2 The reporting person was granted a stock appreciation right, 1/3 vests on the first anniversary of the date of grant and the remaining SARs vest in equal quarterly installments during the second and third years following the date of grant. Each SAR entitles the Reporting Person to receive shares of Common Stock upon exercise equal in value to the difference between the fair market value of the common stock on the date of exercise and the Strike Price of $5.19 per share. The SARS are subject to approval by the Company's stockholders of an amendment to to increase the shares authorized for issuance under the Company's 2019 LTIP Plan.