Timothy Kapalka - Mar 1, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role: CAO Iridium Satellite LLC
Signature: /s/Brian Leaf, Attorney-in-Fact
Stock symbol: IRDM
Transactions as of: Mar 1, 2023
Transactions value $: -$72,738
Form type: 4
Date filed: 3/3/2023, 03:17 PM
Previous filing: Jan 6, 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	-$72.7K	-1.18K	-7.62%	$61.59	14.3K	Mar 1, 2023	Direct	F1
transaction	IRDM	Common Stock	Award	$0	+4.57K	+31.88%	$0.00	18.9K	Mar 1, 2023	Direct	F2

* 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	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.

Content

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.

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.