Vincent J. Cebula - Feb 10, 2023 Form 4 Insider Report for Independence Contract Drilling, Inc. (ICD)

Role: 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, 04:45 PM
Previous filing: Jan 5, 2023
Next filing: Mar 20, 2023

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		+25K	+50.5%		74.5K	Feb 10, 2023	Common Stock	25K		Direct	F1

* 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. The grant of RSU's is subject to approval of an amendment to increase the number of shares authorized under the Company's 2019 LTIP Plan at the 2022 Annual Meeting of Stockholders.

Content

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. The grant of RSU's is subject to approval of an amendment to increase the number of shares authorized under the Company's 2019 LTIP Plan at the 2022 Annual Meeting of Stockholders.