John A. Gallegos Jr. - Feb 10, 2023 Form 4 Insider Report for Independence Contract Drilling, Inc. (ICD)

Role
PRESIDENT & CEO, Director
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, 04:40 PM
Previous filing
Dec 28, 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 +3.69K +8.37% 47.7K Feb 10, 2023 Direct F1
transaction ICD Common Stock Options Exercise +7.74K +16.21% 55.5K 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 Performance Right Options Exercise -5.53K -100% 0 Feb 10, 2023 Common Stock 5.53K Direct F1
transaction ICD Restricted Stock Units Award +81K +12.31% 739K Feb 10, 2023 Common Stock 81K Direct F3
transaction ICD Phantom Stock Unit Award +40.5K +1098.32% 44.2K Feb 10, 2023 Common Stock 40.5K Direct F4
transaction ICD Restricted Stock Units Options Exercise -7.38K -1% 732K Feb 10, 2023 Common Stock 7.38K Direct F2
transaction ICD Phantom Stock Unit Options Exercise -3.69K -8.35% 40.5K Feb 10, 2023 Common Stock 3.69K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents number of shares issued upon vesting of a performance award
F2 The reporting person was granted a restricted stock unit on 2/10/20 that vested on February 10, 2023. Each RSU was settled in shares of common stock.
F3 The reporting person received a restricted stock unit award, subject to a three-year vesting schedule, vesting 1/3 on the first anniversary of the date of grant, 1/3 on the second anniversary of the date of grant, and 1/3 on the third anniversary of the date of grant. ICD will settle vested RSU's within 30 days of the date that such RSU's vest.
F4 Each Phantom stock unit is the economic equivalent to a share of ICD commons tock. The reporting person was granted a PSU that vests in three equal annual installments beginning 2/10/24. PSUs will be settled in cash.
F5 The reporting person was granted a phantom stock unit on 2/10/20 that vested on February 10, 2023. Each PSU was settled in shares of cash.