Matthew J. Desch - Mar 1, 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
Mar 1, 2023
Transactions value $
-$1,867,470
Form type
4
Date filed
3/3/2023, 03:12 PM
Previous filing
Mar 2, 2023
Next filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Tax liability -$655K -10.6K -1.78% $61.59 586K Mar 1, 2023 Direct F1
transaction IRDM Common Stock Tax liability -$417K -6.77K -1.16% $61.59 579K Mar 1, 2023 Direct F2
transaction IRDM Common Stock Award $0 +57.3K +9.89% $0.00 636K Mar 1, 2023 Direct F3
transaction IRDM Common Stock Tax liability -$795K -12.9K -2.03% $61.59 623K Mar 1, 2023 Direct F4
transaction IRDM Common Stock Award $0 +56.8K +9.12% $0.00 680K Mar 1, 2023 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the non-reportable vesting and settlement of restricted stock units.
F2 The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the non-reportable vesting and settlement of a restricted stock unit award that previously vested with respect to one-half of the shares underlying the award on March 1, 2022. The amount being reported herein represents amounts withheld to satisfy tax withholding obligations in connection with the vesting and settlement of the remaining one-half on March 1, 2023.
F3 These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer. Of the shares underlying this restricted stock unit award, one-half vested on March 1, 2023 and the remainder will vest on March 1, 2024, subject to the reporting person's continuous service with the issuer as of the vesting date.
F4 The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the vesting and settlement of the restricted stock unit award reported in footnote (3) herein.
F5 These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer. Of the shares underlying this restricted stock unit award, 25% shall vest on March 1, 2024 and the remainder shall vest in equal quarterly installments thereafter on each June 1, September 1, December 1 and March 1, so that all shares of common stock shall be vested as of March 1, 2027, subject to the reporting person's continuous service with the issuer as of each such vesting date.