secwatch.observer — SEC 8-K summary
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Issuer:     Independence Contract Drilling, Inc. (—)
CIK:        0001537028
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001537028-23-000012
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Independence Contract Drilling increases CEO severance multiple to 3.0x; adopts amended bylaws
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- CEO J. Anthony Gallegos severance multiple raised from 2.5x to 3.0x upon change of control.
- Three other executives (Dalrymple, Keller, Kokenes) severance multiples increased from 1.0x to 1.5x.
- Board adopted Third Amended and Restated Bylaws with enhanced stockholder nomination disclosure and virtual meeting provisions.
- Bylaws also add lead director authority, officer scope defaults, and emergency provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1537028/000153702823000012/0001537028-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1537028/000153702823000012/icd-20230228x8k.htm
  HTML page:      https://secwatch.observer/filing/0001537028-23-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer