Philip Dalrymple - 10 Feb 2023 Form 4 Insider Report for Independence Contract Drilling, Inc.

Role: SR VICE PRESIDENT - OPERATIONS
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, 17:06:30 UTC
Previous filing: 28 Dec 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		+636	+5.5%		12,130	10 Feb 2023	Direct	F1
transaction	ICD	Common Stock	Options Exercise		+1,274	+10%		14,040	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 Award	Options Exercise		-484	-100%		0	10 Feb 2023	Common Stock	484		Direct	F1
transaction	ICD	Restricted Stock Unit	Options Exercise		-1,274	-0.99%		127,582	10 Feb 2023	Common Stock	1,274		Direct	F2
transaction	ICD	Restricted Stock Unit	Award		+16,734	+13%		144,316	10 Feb 2023	Common Stock	16,734		Direct	F2, F3
transaction	ICD	Phantom Stock Unit	Options Exercise		-638	-100%		0	10 Feb 2023	Common Stock	638		Direct	F4
transaction	ICD	Phantom Stock Unit	Award		+8,368			8,368	10 Feb 2023	Common Stock	8,368		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 a performance award on 2/10/20 that vested on 2/10/23. Two thirds of such award was settled in shares of ICD common stcok and 1/3 was settled in cash.
F2	Reporting person was granted a restricted stock unit on 2/10/20 that vested on 2/10/23. Each RSU was settled in ICD common stock.
F3	Reporting person was granted a restricted stock unit that vests in three equal annual installments beginning 2/10/24. RSUs will be settled in shares of ICD common stock.
F4	Reporting person was granted a phantom stock award on 2/10/20 that vested on 2/10/23. Each phantom stock unit was the economic equivalent of one share of ICD common stock. Phantom stock awards were settled in cash.
F5	(3) Reporting person was granted phantom stock units that vest in three equal annual installments beginning 2/10/24. PSUs will be settled in cash and each unit represents the economic equivalent of one share of ICD common stock.