SEC Form 4 · accession 0001537028-17-000052
Independence Contract Drilling, Inc. · ICD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Harwell
Officer — See Remarks
Period of report
Feb 22, 2017
Accepted (ET)
Feb 24, 2017 · 2:39 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 | 11,666 | $0.00 | A | 26,257 | D | |
| Common Stock | Feb 22, 2017 | F | 4,392 | $0.00 | D | 21,865 | D |
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, 2017 | M | 11,666 | D | — | — | Common Stock | 11,666 | 56 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of ICD's common stock
- F2The reporting person received grants of restricted stock units on each of February 22, 2016 (35,000 units) and February 8, 2017 (20,869 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 RSU's within 30 days of the date that such RSU vests.