Statement of Changes in Beneficial Ownership (4)
March 16 2020 - 4:03PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Gallegos John A. Jr. |
2. Issuer Name and Ticker or Trading Symbol
Independence Contract Drilling, Inc.
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ICD
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & CEO |
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(Last)
(First)
(Middle)
20475 STATE HIGHWAY 249, SUITE 300 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/12/2020 |
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(Street)
HOUSTON, TX 77070
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Common Stock | 3/12/2020 | | S(1) | | 1000 | D | $3.089 | 25576 | D | |
| Common Stock | 3/13/2020 | | A(1) | | 1000 | A | $1.533 | 26576 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code
(Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) | 8. Price of Derivative Security
(Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Explanation of Responses: |
| (1) | All transactions reported on this Form 4 give effect to the 1-20 reverse stock split effective following the close of business on March 11, 2020. On March 12, 2020,1,000 shares were inadvertently sold into the market at a selling price of 3.089 per share. On March 13, 2020, Reporting Person repurchased 1,000 shares at a price of $1.533 per share. The purchase and sale reported herein were matchable under Section 16(b) of the Securities Exchange Act of 1934. The Reporting Person has agreed to pay to Independence Contract Drilling, Inc. upon settlement of the sale, $1,556 representing the full amount of the profit realized in connection with the matchable transaction. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Gallegos John A. Jr.
20475 STATE HIGHWAY 249
SUITE 300
HOUSTON, TX 77070 |
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| President & CEO |
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Signatures
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| /s/ Philip A. Choyce, by power of attorney | | 3/13/2020 |
| **Signature of Reporting Person | Date |
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