SEC Form 5 · accession 0000950142-16-004386

Independence Contract Drilling, Inc. · ICD

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Table I — non-derivative securities

Table II — derivative securities

Explanation of responses

• F1The reported securities are owned directly by Sprott Resource Partnership ("SRP"), which is controlled by Sprott Resource Corp. ("SRC"). SRC is an indirect beneficial owner of the reported securities.
• F2The reporting person disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
• F3Represents Restricted Shares granted to Mr. Arthur Einav on August 20, 2014 that will vest ratably on each of the first three anniversaries of the date of grant. On August 19, 2015, Mr. Einav and SRP entered into an Investee Director Compensation Agreement pursuant to which the Restricted Shares are held by Mr. Einav for the benefit of SRP, which is controlled by SRC (Mr. Einav serves as as Managing Director, General Counsel and Corporate Secretary of SRC). Under the Investee Director Compensation Agreement, upon vesting, direct ownership of the Restricted Shares will be transferred to SRP and SRP will directly own such shares.

Remarks

This report on Form 5 is submitted to reflect the fact that the reporting persons have ceased to own 10% or more of the Issuer's common stock. As a result, the reporting persons are no longer subject to Section 16 in connection with their respective transactions in the equity securities of the Issuer and therefore will no longer report any such transactions on Form 4 or Form 5.