# EDGAR Filing Document

**Accession Number:** 0001562099
**File Stem:** 0001415889-23-002527
**Filing Date:** 2023-2
**Character Count:** 7323
**Document Hash:** 8973d186e472691c369d8a54244080f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001415889-23-002527.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001415889-23-002527

**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:** Gallegos John A. Jr.
- **CENTRAL INDEX KEY:** 0001562099

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36590
- **FILM NUMBER:** 23632180

**MAIL ADDRESS:**
- **STREET 1:** 952 ECHO LANE
- **STREET 2:** SUITE 460
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024
**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>Gallegos John A. Jr.<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>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_PRESIDENT & CEO_ |
| **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 |  | 3688 | A | <sup>(1)</sup> | 47733 | D |  |
| Common Stock | 2023-02-10 |  | M |  | 7736 | A | <sup>(2)</sup> | 55469 | 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 Right | <sup>(1)</sup> | 2023-02-10 |  | M |  |  | 5532 | <sup>(1)</sup> | <sup>(1)</sup> | Common Stock | 5532 | <sup>(1)</sup> | 0 | D |  |
| Restricted Stock Units | <sup>(3)</sup> | 2023-02-10 |  | A |  | 81009 |  | <sup>(3)</sup> | <sup>(3)</sup> | Common Stock | 81009 | <sup>(3)</sup> | 738969 | D |  |
| Phantom Stock Unit | <sup>(4)</sup> | 2023-02-10 |  | A |  | 40506 |  | <sup>(4)</sup> | <sup>(4)</sup> | Common Stock | 40506 | <sup>(4)</sup> | 44194 | D |  |
| Restricted Stock Units | <sup>(2)</sup> | 2023-02-10 |  | M |  |  | 7376 | <sup>(2)</sup> | <sup>(2)</sup> | Common Stock | 7376 | <sup>(2)</sup> | 731593 | D |  |
| Phantom Stock Unit | <sup>(5)</sup> | 2023-02-10 |  | M |  |  | 3688 | <sup>(5)</sup> | <sup>(5)</sup> | Common Stock | 3688 | <sup>(5)</sup> | 40506 | D |  |

---

### Footnotes:

(1) Represents number of shares issued upon vesting of a performance award

(2) The reporting person was granted a restricted stock unit on 2/10/20 that vested on February 10, 2023.  Each RSU was settled in shares of common stock.

(3) The reporting person received a restricted stock unit award, subject to a three-year vesting schedule, vesting 1/3 on the first anniversary of the date of grant, 1/3 on the second anniversary of the date of grant, and 1/3 on the third anniversary of the date of grant. ICD will settle vested RSU's within 30 days of the date that such RSU's vest.

(4) Each Phantom stock unit is the economic equivalent to a share of ICD commons tock.  The reporting person was granted a PSU that vests in three equal annual installments beginning 2/10/24.  PSUs will be settled in cash.

(5) The reporting person was granted a phantom stock unit on 2/10/20 that vested on February 10, 2023. Each PSU was settled in shares of cash.

**Signature:** /s/ Philip A. Choyce, Attorney-in-Fact  
**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.**