Timothy Kapalka - Mar 1, 2024 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, 2024
Transactions value $
-$46,229
Form type
4
Date filed
3/5/2024, 04:42 PM
Previous filing
Dec 4, 2023
Next filing
Jun 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRDM Common Stock Tax liability -$31.9K -1.07K -5.84% $29.71 17.3K Mar 1, 2024 Direct F1
transaction IRDM Common Stock Award $0 +7.57K +43.8% $0.00 24.9K Mar 1, 2024 Direct F2
transaction IRDM Common Stock Award $0 +960 +3.86% $0.00 25.8K Mar 2, 2024 Direct F3
transaction IRDM Common Stock Tax liability -$14.3K -483 -1.87% $29.71 25.3K Mar 2, 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.