A. B. Krongard - Sep 29, 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role
Director
Signature
/s/ Brian F. Leaf, attorney-in-fact
Stock symbol
IRDM
Transactions as of
Sep 29, 2023
Transactions value $
$0
Form type
4
Date filed
10/3/2023, 04:40 PM
Previous filing
Aug 8, 2023
Next filing
Nov 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Award $0 +250 +0.2% $0.00 123K Sep 29, 2023 Direct F1
holding IRDM Common Stock 207K Sep 29, 2023 By 2022 Alvin B. Krongard GRAT F2
holding IRDM Common Stock 161K Sep 29, 2023 By Krongard Irrevocable Equity Trust dated June 30, 2009 F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On September 5, 2023, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.13 per share of its common stock, payable on September 29, 2023 to stockholders of record of the common stock at the close of business on September 15, 2023 (the "Dividend"). The amount acquired in column 4 represents equivalent rights accrued on restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person as a result of the Dividend. Each dividend equivalent right entitles the reporting person to receive one share of the Issuer's common stock upon the settlement of the Original RSUs and is subject to the same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates. The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended.
F2 These shares are held by the 2022 Alvin B. Krongard GRAT, a grantor retained annuity trust (the "GRAT"). The reporting person is the trustee and the sole annuitant of the GRAT.
F3 These shares are held in a trust for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.