SEC Form 4 · accession 0000950142-15-001961
Independence Contract Drilling, Inc. · ICD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur Einav
Director
Period of report
Aug 19, 2015
Accepted (ET)
Aug 19, 2015 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001537028
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF3,F1,F2 | Aug 19, 2015 | J | 12,272 | $0.00 | D | 12,272 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the previously disclosed Restricted Shares granted to the reporting person on August 20, 2014 that will vest ratably on each of the first three anniversaries of the date of grant. On August 19, 2015, the reporting person and Sprott Resource Partnership ("SRP") entered into an Investee Director Compensation Agreement pursuant to which the Restricted Shares are held by the reporting person for the benefit of SRP, which is controlled by Sprott Resource Corp. (Mr. Einav serves as as Managing Director, General Counsel and Corporate Secretary of Sprott Resource Corp.). While the reporting person is the direct owner of the reported securities, the reporting person does not have any economic or voting interest in the these securities and disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. (FN Cont'd)
- F2(Cont'd from FN 1) Under the Investee Director Compensation Agreement, upon vesting, direct ownership of the Restricted Shares will be transferred to SRP and Mr. Einav will no longer beneficially own such Restricted Shares. The inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F3Not applicable.