Scott A. Keller - 10 Feb 2023 Form 4 Insider Report for Independence Contract Drilling, Inc.

Role: SVP - SALES AND MARKETING
Signature: /s/ Philip A. Choyce, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 10 Feb 2023
Net transactions value: $0
Form type: 4
Filing time: 14 Feb 2023, 16:13:11 UTC
Previous filing: 21 Mar 2022
Next filing: 20 Mar 2023
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		+648	+8.7%		8,083	10 Feb 2023	Direct	F1
transaction	ICD	Common Stock	Options Exercise		+323	+4%		8,406	10 Feb 2023	Direct	F2

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		-648	-0.45%		142,297	10 Feb 2023	Common Stock	648		Direct	F1
transaction	ICD	Performance Award	Options Exercise		-484	-100%		0	10 Feb 2023	Common Stock	484		Direct	F2
transaction	ICD	Restricted Stock Units	Award		+19,330	+14%		161,627	10 Feb 2023	Common Stock	19,330		Direct	F3
transaction	ICD	Phantom Stock Unit	Options Exercise		-325	-100%		0	10 Feb 2023	Common Stock	325		Direct	F4
transaction	ICD	Phantom Stock Unit	Award		+9,666			9,666	10 Feb 2023	Common Stock	9,666		Direct	F5

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

Explanation of Responses:

Id	Content
F1	Reporting person was granted restricted stock units on 2/10/20 that vested on 2/10/23. RSUs were settled in shares of ICD common stock.
F2	Represents vesting of a Performance Award originally granted on 2/10/20. Performance award was settled 2./3 in shares of ICD common stock and 1/3 in cash.
F3	Reporting person was granted a restricted stock unit award that vests in three annual installments beginning 2/10/24. RSUs are settled in shares of common stock.
F4	Reporting person was award a phantom stock award on 2/10/20 that vested on 2/10/23. Phantom stock is settled in cash. Each phantom stock unit is the economic equivalent on one share of ICD common stock.
F5	Reporting person was granted a phantom stock unit award on 2/10/23 that vests in three equal annual installments beginning 2/10/24. Each unit is the economic equivalent on one share of ICD common stock and is settled in cash.