Page 1

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 10 - K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission file number 001-36590 INDEPENDENCE CONTRACT DRILLING , INC . ( Exact name of registrant as specified in its charter ) Delaware ( State or other jurisdiction of incorporation or organization ) 20475 State Highway 249 , Suite 300 Houston , Texas ( Address of principal executive offices ) Title of Each Class Common Stock , $ 0.01 par value to 37-1653648 ( I.R.S. Employer Identification No. ) Non - accelerated filer 77070 ( Zip code ) ( 281 ) 598-1230 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) per share ICD Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes || Name of each exchange on which registered New York Stock Exchange Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes p No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website , if any , every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit and post such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . ( Check one ) : Large accelerated filer No p No p Accelerated filer Smaller reporting company Emerging growth company ■ If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Yes No Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No p The aggregate market value of the registrant's common stock held by non - affiliates of the registrant was approximately $ 15,486,849 as of June 30 , 2020 , the last business day of the registrant's most recently completed second fiscal quarter ( based on a closing price of $ 3.89 per share as reported on the New York Stock Exchange and 3,981,195 shares held by non - affiliates ) . There were 6,196,713 shares of the registrant's common stock outstanding as of February 19 , 2021 . DOCUMENTS INCORPORATED BY REFERENCE Portions of the proxy statement for the registrant's 2021 Annual Meeting of Stockholders ( to be filed within 120 days of the close of the registrant's fiscal year ) are incorporated by reference into Part III of this Annual Report on Form 10 - K .