Independence Contract Drilling Management
Management criteria checks 2/4
Independence Contract Drilling's CEO is John Gallegos, appointed in Oct 2018, has a tenure of 5.92 years. total yearly compensation is $1.97M, comprised of 28% salary and 72% bonuses, including company stock and options. directly owns 3.79% of the company’s shares, worth $121.17K. The average tenure of the management team and the board of directors is 4.4 years and 2.5 years respectively.
Key information
John Gallegos
Chief executive officer
US$2.0m
Total compensation
| CEO salary percentage | 28.0% |
| CEO tenure | 5.9yrs |
| CEO ownership | 3.8% |
| Management average tenure | 4.4yrs |
| Board average tenure | 2.5yrs |
Recent management updates
Recent updates
Improved Revenues Required Before Independence Contract Drilling, Inc. (NYSE:ICD) Shares Find Their Feet
Jun 20
Does Independence Contract Drilling (NYSE:ICD) Have A Healthy Balance Sheet?
May 09Independence Contract Drilling's (NYSE:ICD) Returns On Capital Are Heading Higher
Feb 29We Think Independence Contract Drilling (NYSE:ICD) Is Taking Some Risk With Its Debt
Jan 10Independence Contract Drilling, Inc.'s (NYSE:ICD) Shares Lagging The Industry But So Is The Business
Nov 10Independence Contract Drilling (NYSE:ICD) Seems To Be Using A Lot Of Debt
Jun 14Independence Contract Drilling Navigates Through Operational Challenges
Jun 08Health Check: How Prudently Does Independence Contract Drilling (NYSE:ICD) Use Debt?
Feb 22Independence Contract Drilling: Repricing And Profit Growth Potential Are Alluring
Feb 03Independence Contract Drilling Non-GAAP EPS of -$0.35, revenue of $49.1M
Nov 01Is Independence Contract Drilling (NYSE:ICD) Using Debt In A Risky Way?
Oct 28Independence Contract Drilling: Rig Reactivation And Margin Expansion Will Drive It
Oct 06Independence Contract Drilling: Await The Repricing And Contract Renewals
Jul 13Independence Contract Drilling: Better Quality Rigs And Repricing Will Outdo Cash Flow Concerns
Apr 06Independence Contract Drilling: Improved Revenue And Margin Can Bail Out Cash Flow Crunch
Jan 14Independence Contract Drilling reports Q1 results
May 04Independence Contract Drilling EPS beats by $0.48, beats on revenue
Nov 03CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2024 | n/a | n/a | -US$59m |
| Mar 31 2024 | n/a | n/a | -US$47m |
| Dec 31 2023 | US$2m | US$552k | -US$38m |
| Sep 30 2023 | n/a | n/a | -US$8m |
| Jun 30 2023 | n/a | n/a | -US$8m |
| Mar 31 2023 | n/a | n/a | -US$7m |
| Dec 31 2022 | US$6m | US$480k | -US$65m |
| Sep 30 2022 | n/a | n/a | -US$100m |
| Jun 30 2022 | n/a | n/a | -US$97m |
| Mar 31 2022 | n/a | n/a | -US$109m |
| Dec 31 2021 | US$2m | US$419k | -US$67m |
| Sep 30 2021 | n/a | n/a | -US$78m |
| Jun 30 2021 | n/a | n/a | -US$89m |
| Mar 31 2021 | n/a | n/a | -US$84m |
| Dec 31 2020 | US$849k | US$430k | -US$97m |
| Sep 30 2020 | n/a | n/a | -US$89m |
| Jun 30 2020 | n/a | n/a | -US$84m |
| Mar 31 2020 | n/a | n/a | -US$87m |
| Dec 31 2019 | US$2m | US$465k | -US$61m |
| Sep 30 2019 | n/a | n/a | -US$34m |
| Jun 30 2019 | n/a | n/a | -US$28m |
| Mar 31 2019 | n/a | n/a | -US$18m |
| Dec 31 2018 | US$3m | US$106k | -US$20m |
Compensation vs Market: John's total compensation ($USD1.97M) is above average for companies of similar size in the US market ($USD677.23K).
Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.
CEO
John Gallegos (54 yo)
5.9yrs
Tenure
US$1,970,300
Compensation
Mr. John Anthony Gallegos Jr. was the President of Sidewinder Drilling, LLC since November 2014 until September 2018 and its Chief Executive Officer since October 4, 2017 until September 2018. Mr. Gallegos...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.9yrs | US$1.97m | 3.79% $ 121.2k | |
| Executive VP | 12.5yrs | US$1.11m | 1.75% $ 56.0k | |
| Senior Vice President of Business Development | 3.8yrs | US$732.78k | 1.02% $ 32.5k | |
| Senior Vice President of Operations | 4.5yrs | US$329.68k | 1.05% $ 33.6k | |
| VP & Chief Accounting Officer | 4.3yrs | no data | 0.38% $ 12.1k | |
| Vice President of Sales & Marketing | 3.8yrs | no data | no data |
4.4yrs
Average Tenure
52yo
Average Age
Experienced Management: ICDI's management team is considered experienced (4.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.9yrs | US$1.97m | 3.79% $ 121.2k | |
| Independent Director | 2.5yrs | US$182.75k | 0.53% $ 17.1k | |
| Independent Director | no data | no data | no data | |
| Independent Chairman of the Board | 5.9yrs | US$186.75k | 0.66% $ 21.1k | |
| Independent Director | 2.2yrs | US$175.50k | 0.52% $ 16.7k |
2.5yrs
Average Tenure
60yo
Average Age
Experienced Board: ICDI's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.