# EDGAR Filing Document

**Accession Number:** 0001241701
**File Stem:** 0001415889-23-002524
**Filing Date:** 2023-2
**Character Count:** 7281
**Document Hash:** 15fed1af9c5e40902eb527a402ed68ca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001415889-23-002524.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001415889-23-002524

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230210

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** CHOYCE PHILIP A
- **CENTRAL INDEX KEY:** 0001241701

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36590
- **FILM NUMBER:** 23632122
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Independence Contract Drilling, Inc.
- **CENTRAL INDEX KEY:** 0001537028
- **STANDARD INDUSTRIAL CLASSIFICATION:** DRILLING OIL & GAS WELLS [1381]
- **IRS NUMBER:** 371653648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 20475 STATE HIGHWAY 249
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77070
- **BUSINESS PHONE:** 2815981230

**MAIL ADDRESS:**
- **STREET 1:** 20475 STATE HIGHWAY 249
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77070

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>CHOYCE PHILIP A<br><sub>(Last) (First) (Middle)</sub><br>20475 HWY 249, SUITE 300<br><sub>(Street)</sub><br>HOUSTON, TX 77070<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_EXECUTIVE VP & CFO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Independence Contract Drilling, Inc. [ ICD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-10 |  | M |  | 1371 | A | <sup>(1)</sup> | 35489 | D |  |
| Common Stock | 2023-02-10 |  | M |  | 4114 | A | <sup>(2)</sup> | 39603 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Performance Unit | <sup>(1)</sup> | 2023-02-10 |  | M |  |  | 2056 | <sup>(1)</sup> | <sup>(1)</sup> | Common Stock | 2056 | <sup>(1)</sup> | 0 | D |  |
| Restricted Stock Unit | <sup>(3)</sup> | 2023-02-10 |  | A |  | 36819 |  | <sup>(3)</sup> | <sup>(3)</sup> | Common Stock | 265779 | <sup>(3)</sup> | 265779 | D |  |
| Phantom Stock Unit | <sup>(4)</sup> | 2023-02-10 |  | A |  | 18410 |  | <sup>(4)</sup> | <sup>(4)</sup> | Common Stock | 18410 | <sup>(4)</sup> | 20410 | D |  |
| Restricted Stock Unit | <sup>(2)</sup> | 2023-02-10 |  | M |  |  | 4114 | <sup>(2)</sup> | <sup>(2)</sup> | Common Stock | 4114 | <sup>(2)</sup> | 261665 | D |  |
| Phantom Stock Unit | <sup>(5)</sup> | 2023-02-10 |  | M |  |  | 2057 | <sup>(5)</sup> | <sup>(5)</sup> | Common Stock | 2057 | <sup>(5)</sup> | 18410 | D |  |

---

### Footnotes:

(1) Represents vesting of a performance award.  Each performance right reprsented the right to receive a share of ICD common stock upon ICD achieving certain relative TSR rankings against a peer group.  Performance rights were settled 2/3 in shares of common stock and 1/3 in cash.

(2) Reporting person  held an RSU granted on 2/10/20 that vested on 2/10/23.  Each RSU was settled in shares of common stock.

(3) Each RSU represents and contingent right to receive one share of ICD commons tock.  The reporting person was granted an RSU that vests in three annual installments beginning 2/10/24.

(4) Each phantom stock unit represents the economic equivalent on one share of ICD common stock.  Each unit vests in three equal annual installments beginning February 10, 2024.  Phantom stock units will be settled in cash.

(5) Reporting person was granted a phantom stock unit on 2/10/20 that vested on 2/20/23.  Each PSU is the equivalent of one share of ICD common stock.  PSU's were settled in cash.

**Signature:** /s/ Philip A. Choyce  
**Date:** 2023-02-14

**Signature:** /s/ Philip A. Choyce  
**Date:** 2023-02-14

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**