Timothy Kapalka - 01 Mar 2024 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role
CAO IRIDIUM SATELLITE LLC
Signature
/s/ Brian Leaf, Attorney-in-Fact
Issuer symbol
IRDM
Transactions as of
01 Mar 2024
Net transactions value
-$46,229
Form type
4
Filing time
05 Mar 2024, 16:42:17 UTC
Previous filing
04 Dec 2023
Next filing
04 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Tax liability $31,879 -1,073 -5.8% $29.71 17,290 01 Mar 2024 Direct F1
transaction IRDM Common Stock Award $0 +7,573 +44% $0.000000 24,863 01 Mar 2024 Direct F2
transaction IRDM Common Stock Award $0 +960 +3.9% $0.000000 25,823 02 Mar 2024 Direct F3
transaction IRDM Common Stock Tax liability $14,350 -483 -1.9% $29.71 25,340 02 Mar 2024 Direct F4
* 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, 34% shall vest on March 1, 2025 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.
F3 Represents the vested portion of a performance-based restricted stock unit award based on the issuer's satisfaction of certain performance criteria. In light of the performance-based vesting conditions of the award, such award was not reportable under Section 16 until vesting was determined, which occurred on March 2, 2024.
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.