Matthew J. Desch - Feb 22, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role
Chief Executive Officer, Director
Signature
/s/Brian Leaf, Attorney-in-Fact
Stock symbol
IRDM
Transactions as of
Feb 22, 2023
Transactions value $
-$5,022,974
Form type
4
Date filed
2/24/2023, 03:46 PM
Previous filing
Jan 13, 2023
Next filing
Mar 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Options Exercise $1.26M +194K +37.35% $6.52* 712K Feb 22, 2023 Direct
transaction IRDM Common Stock Sale -$6.29M -100K -14.05% $62.82 612K Feb 22, 2023 Direct F1, F2
transaction IRDM Common Stock Gift $0 -6.3K -1.03% $0.00 606K Feb 22, 2023 Direct
transaction IRDM Common Stock Gift $0 -9.5K -1.57% $0.00 596K Feb 23, 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IRDM Employee Stock Option (Right to Buy) Options Exercise $0 -194K -100% $0.00* 0 Feb 22, 2023 Common Stock 194K $6.52 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These sales were for the sole purpose of paying the exercise price of the option reported on Table II of this form and the associated tax withholding obligations.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.51 to $63.17, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this form Form 4.
F3 Fully vested and immediately exercisable. These options vested as to 25% of the shares on March 1, 2015 and quarterly thereafter in equal installments on each June 1, September 1 and December 1 through March 1, 2018.