Robert J. Barrett IV - 01 Jul 2022 Form 4 Insider Report for Independence Contract Drilling, Inc.

Role
Director
Signature
/s/ Philip A. Choyce, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
01 Jul 2022
Net transactions value
$0
Form type
4
Filing time
05 Jul 2022, 12:55:47 UTC
Next filing
14 Feb 2023
SEC
View on sec.gov

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 +18,429 18,429 01 Jul 2022 Common Stock 18,429 Direct F1
transaction ICD Restricted Stock Unit Award +30,769 +167% 49,198 01 Jul 2022 Common Stock 30,769 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 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.
F2 The reporting person received a grant of restricted stock units in connection with his initial appointment to the board of directors. RSU's will vest in 1/3 increments on the 1st, 2nd and 3rd anniversaries of the date of grant. RSU's will be settled within 30 days of vesting, 1/3 in cash and 2/3 in shares of common stock.