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

Role: SVP - SALES AND MARKETING
Signature: /s/ Philip A. Choyce, Attorney-in-Fact
Stock symbol: ICD
Transactions as of: Feb 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/14/2023, 04:13 PM
Previous filing: Mar 21, 2022
Next filing: Mar 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ICD	Common Stock	Options Exercise		+648	+8.72%		8.08K	Feb 10, 2023	Direct	F1
transaction	ICD	Common Stock	Options Exercise		+323	+4%		8.41K	Feb 10, 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%		142K	Feb 10, 2023	Common Stock	648		Direct	F1
transaction	ICD	Performance Award	Options Exercise		-484	-100%		0	Feb 10, 2023	Common Stock	484		Direct	F2
transaction	ICD	Restricted Stock Units	Award		+19.3K	+13.58%		162K	Feb 10, 2023	Common Stock	19.3K		Direct	F3
transaction	ICD	Phantom Stock Unit	Options Exercise		-325	-100%		0	Feb 10, 2023	Common Stock	325		Direct	F4
transaction	ICD	Phantom Stock Unit	Award		+9.67K			9.67K	Feb 10, 2023	Common Stock	9.67K		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.