Bryan J. Hartin - May 3, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role: EVP-Sales and Marketing
Signature: /s/Brian Leaf, Attorney-in-Fact
Stock symbol: IRDM
Transactions as of: May 3, 2023
Transactions value $: -$1,696,592
Form type: 4
Date filed: 5/5/2023, 06:33 PM
Previous filing: Apr 26, 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	$107K	+11.3K	+13.89%	$9.45^*	92.9K	May 3, 2023	Direct
transaction	IRDM	Common Stock	Sale	-$1.8M	-27.8K	-29.95%	$64.80	65.1K	May 3, 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	-11.3K	-100%	$0.00^*	0	May 3, 2023	Common Stock	11.3K	$9.45	Direct	F2

* 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 $64.50 to $65.42, 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	25% of the shares of common stock underlying the option vested and became exercisable 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.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.50 to $65.42, 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.

25% of the shares of common stock underlying the option vested and became exercisable 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.