SEC Form 4 · accession 0001537028-17-000046
Independence Contract Drilling, Inc. · ICD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Byron A Dunn
Officer — President & CEO · Director
Period of report
Feb 22, 2017
Accepted (ET)
Feb 24, 2017 · 2:32 pm EST
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 Stock | Feb 22, 2017 | M | 80,000 | $0.00 | A | 222,808 | D | |
| Common Stock | Feb 22, 2017 | F | 33,951 | $5.70 | D | 188,857 | D | |
| Common StockF1 | holding | — | — | — | 184,475 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Feb 22, 2017 | M | 80,000 | D | — | — | Common Stock | 80,000 | 160,000 | D |
Explanation of responses
- F1Represents 105,975 shares of common stock owned of record by Field Rock Partners LP, over which Mr. Dunn shares voting and dispositive power. Represents 78,500 shares of common stock owned of record by Granite One Limited Partnership, over which Mr. Dunn shares voting and dispositive power.
- F2Each restricted stock unit represents a contintent right to receive one share of ICD's common stock.
- F3The reporting person received grants of restricted stock units on each of February 22, 2016 (240,000 units) and February 8, 2017 (190,324 units),each 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 RSUIs within 30 days of the date that such RSU's vest.