John A. Gallegos Jr. - 18 Mar 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: 18 Mar 2023
Net transactions value: $0
Form type: 4
Filing time: 20 Mar 2023, 14:44:29 UTC
Previous filing: 14 Feb 2023
Next filing: 28 Dec 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		+164,917	+297%		220,386	18 Mar 2023	Direct	F1

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 Units	Options Exercise		-164,917	-23%		566,676	18 Mar 2023	Common Stock	164,917		Direct	F1
transaction	ICD	Restricted Stock Units	Tax liability		-53,083	-9.4%		513,593	18 Mar 2023	Common Stock	53,083		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 was granted an RSU on 3/18/22 that vests in three equal installments one each of 3/18/23, 12/31/23 and 12/31/24. Vested RSUs are settled in shares of common stock.