Kay Sears - Sep 29, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role
Director
Signature
/s/ Brian F. Leaf, attorney-in-fact
Stock symbol
IRDM
Transactions as of
Sep 29, 2023
Transactions value $
$0
Form type
4
Date filed
10/3/2023, 04:35 PM
Previous filing
Jul 3, 2023
Next filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Award $0 +10.8 +0.15% $0.00 7.24K Sep 29, 2023 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 5, 2023, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.13 per share of its common stock, payable on September 29, 2023 to stockholders of record of the common stock at the close of business on September 15, 2023 (the "Dividend"). The amount acquired in column 4 represents equivalent rights accrued on restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person as a result of the Dividend. Each dividend equivalent right entitles the reporting person to receive one share of the Issuer's common stock upon the settlement of the Original RSUs and is subject to the same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates. The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended.