Independence Contract Drilling, Inc. 4
4 · Independence Contract Drilling, Inc. · Filed Aug 19, 2015
Insider Transaction Report
Form 4
Einav Arthur
Director
Transactions
- Other
Common Stock
2015-08-19−12,272→ 12,272 total
Footnotes (3)
- [F1]Represents the previously disclosed Restricted Shares granted to the reporting person on August 20, 2014 that will vest ratably on each of the first three anniversaries of the date of grant. On August 19, 2015, the reporting person and Sprott Resource Partnership ("SRP") entered into an Investee Director Compensation Agreement pursuant to which the Restricted Shares are held by the reporting person for the benefit of SRP, which is controlled by Sprott Resource Corp. (Mr. Einav serves as as Managing Director, General Counsel and Corporate Secretary of Sprott Resource Corp.). While the reporting person is the direct owner of the reported securities, the reporting person does not have any economic or voting interest in the these securities and disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. (FN Cont'd)
- [F2](Cont'd from FN 1) Under the Investee Director Compensation Agreement, upon vesting, direct ownership of the Restricted Shares will be transferred to SRP and Mr. Einav will no longer beneficially own such Restricted Shares. The inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- [F3]Not applicable.