SEC Form 4 · accession 0000899243-16-014212
Independence Contract Drilling, Inc. · ICD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip A Choyce
Officer — See Remarks
Period of report
Feb 22, 2016
Accepted (ET)
Feb 24, 2016 · 4:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001537028
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Feb 22, 2016 | A | 110,000 | A | — | — | Common Stock | 110,000 | 110,000 | D |
| Employee Stock Option (Right to Buy)F3 | $12.74 | holding | — | — | — | — | Mar 2, 2022 | Common Stock | 157,000 | 157,000 | D |
Explanation of responses
- F1Each restricted stock unit represents a contintent right to receive one share of ICD's common stock.
- F2The reporting person received a restricted stock unit 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 settled vested RSUIs within 30 days of the date that such RSU's vest.
- F3Options to purchase 157,000 shares of common stock are immediately exercisable.
Remarks
Senior Vice President & Chief Financial Officer