Vincent J. Cebula - Mar 18, 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
Mar 18, 2023
Transactions value $
$0
Form type
4
Date filed
3/20/2023, 11:34 AM
Previous filing
Feb 14, 2023
Next filing
May 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ICD Common Stock Options Exercise +5.5K 5.5K Mar 18, 2023 Direct F1
transaction ICD Common Stock Options Exercise +16.5K +300.02% 22K Mar 18, 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 Unit Options Exercise -8.25K -33.33% 16.5K Mar 18, 2023 Common Stock 8.25K Direct F1
transaction ICD Restricted Stock Unit Options Exercise -24.8K -49.75% 25K Mar 18, 2023 Common Stock 24.8K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person was granted a restricted stock unit (RSU) upon appointment to the Company's Board of Directors that vests in equal 1/3 installments on the first, second and third anniversaries of the date of grant. Each RSU entitles the reporting person to receive one share of commons tock upon vesting. Two third of RSUs were settled in shares of common stock and 1/3 was settled in cash.
F2 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 were settled in cash, 2/3 were settled in shares of common stock.