Independence Contract Drilling Boosts Investment and Incentives

Independence Contract Drilling (ICD) has issued an announcement.

On February 27, 2024, Independence Contract Drilling, Inc. amended its capital expenditure limits for 2024 and 2025, allowing for increased investments, especially when expanding its rig operations. The same day, the company also approved a long-term incentive plan for executives, linking stock and cash awards to performance targets such as free cash flow and total shareholder return, with the potential for accelerated vesting in the event of a change in control. The incentive plan is crafted to align executive compensation with the company’s financial success and shareholder value creation.

For detailed information about ICD stock, go to TipRanks’ Stock Analysis page.