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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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kokenes Kathrine
2. Issuer Name and Ticker or Trading Symbol

Independence Contract Drilling, Inc. [ ICD ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
VP & CHIEF ACCOUNTING OFFICER
(Last)          (First)          (Middle)

20475 HWY 249, SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

2/10/2023
(Street)

HOUSTON, TX 77070
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 2/10/2023  M  106 A (1)1763 D 
 
Common Stock 2/10/2023  M  214 A (2)1977 D 
 
Common Stock         1657 D 
 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Performance Award  (1)2/10/2023  M     159   (1) (1)Common Stock 159  (1)0 D 
 
Restricted Stock Units  (2)2/10/2023  M     214   (2) (2)Common Stock 214  (2)49761 D 
 
Phantom Stock Unit  (3)2/10/2023  M     107   (3) (3)Common Stock 107  (3)0 D 
 
Restricted Stock Units  (4)2/10/2023  M   6250     (4) (4)Common Stock 6250  (4)56011 D 
 
Phantom Stock Unit  (5)2/10/2023  M   3125     (5) (5)Common Stock 3125  (5)3125 D 
 

Explanation of Responses:
(1) Vesting of a Performance Award representing right to receive on share of common stock. One third of such award settled in cash, 2/3 settled in stock
(2) Reporting person was granted an RSU on 2/10/20 that vested on 2/10/23. RSUs were settled in shares of ICD common stock.
(3) Reporting person was granted a phantom stock award on 2/10/20 that vested on 2/10/23. Each award is the economic equivalent of one share of ICD common stock. Phantom stock awards were settled in cash.
(4) Reporting person was granted a restricted stock unit that vests in three annual installment beginning 2/10/24. Each RSU will be settled in shares of ICD common stock.
(5) Reporting person was granted phantom stock units that vest in three annual installments beginning 2/10/24. Each phantom unit is the economic equivalent on one share of ICD common stock. Each phantom stock unit will be settled in cash.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Kokenes Kathrine
20475 HWY 249, SUITE 300
HOUSTON, TX 77070


VP & CHIEF ACCOUNTING OFFICER

Signatures
/s/ Philip A. Choyce, Attorney-in-Fact2/14/2023
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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