Scott Scheimreif - Mar 13, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role
EVP-Government Programs
Signature
/s/Brian Leaf, Attorney-in-Fact
Stock symbol
IRDM
Transactions as of
Mar 13, 2023
Transactions value $
-$5,004,909
Form type
4
Date filed
3/14/2023, 05:12 PM
Previous filing
Mar 6, 2023
Next filing
Jun 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Options Exercise $344K +52.8K +38.1% $6.52* 191K Mar 13, 2023 Direct
transaction IRDM Common Stock Options Exercise $411K +43.5K +22.74% $9.45* 235K Mar 13, 2023 Direct
transaction IRDM Common Stock Sale -$5.76M -96.3K -41% $59.79 139K Mar 13, 2023 Direct F1

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 -52.8K -100% $0.00* 0 Mar 13, 2023 Common Stock 52.8K $6.52 Direct F2
transaction IRDM Employee Stock Option (Right to Buy) Options Exercise $0 -43.5K -100% $0.00* 0 Mar 13, 2023 Common Stock 43.5K $9.45 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.43 to $60.39, 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.
F2 These options vested and became exercisable as to 25% of the shares of common stock underlying the option on March 1, 2015 and quarterly thereafter in equal installments (rounded down to the nearest whole number) on June 1, September 1 and December 1, so that all shares of common stock underlying the option vested and became exercisable on March 1, 2018.
F3 These options vested and became exercisable as to 25% of the shares of common stock underlying the option on March 1, 2016 and quarterly thereafter in equal installments on June 1, September 1 and December 1 so that all shares of common stock underlying the option vested and became exercisable on March 1, 2019.