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

Role
PRESIDENT & CEO, Director
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, 16:40:15 UTC
Previous filing
28 Dec 2022
Next filing
19 Mar 2024
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 +3,688 +8.4% 47,733 10 Feb 2023 Direct F1
transaction ICD Common Stock Options Exercise +7,736 +16% 55,469 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 Performance Right Options Exercise -5,532 -100% 0 10 Feb 2023 Common Stock 5,532 Direct F1
transaction ICD Restricted Stock Units Award +81,009 +12% 738,969 10 Feb 2023 Common Stock 81,009 Direct F3
transaction ICD Phantom Stock Unit Award +40,506 +1098% 44,194 10 Feb 2023 Common Stock 40,506 Direct F4
transaction ICD Restricted Stock Units Options Exercise -7,376 -1% 731,593 10 Feb 2023 Common Stock 7,376 Direct F2
transaction ICD Phantom Stock Unit Options Exercise -3,688 -8.3% 40,506 10 Feb 2023 Common Stock 3,688 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.