Thomas C. Canfield - Mar 29, 2024 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: Mar 29, 2024
Transactions value $: $0
Form type: 4
Date filed: 4/2/2024, 04:21 PM
Previous filing: Mar 6, 2024
Next filing: Jul 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IRDM	Common Stock	Award	$0	+991	+0.5%	$0.00	200K	Mar 29, 2024	Direct	F1
holding	IRDM	Common Stock						36.7K	Mar 29, 2024	By Thomas C. Canfield 2017 GRAT	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On February 15, 2024, 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 March 29, 2024 to stockholders of record of the common stock at the close of business on March 15, 2024 (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 owned by a grantor retained annuity trust ("GRAT"). The reporting person is the trustee and sole annuitant of the GRAT.

Content

On February 15, 2024, 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 March 29, 2024 to stockholders of record of the common stock at the close of business on March 15, 2024 (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.

These shares are owned by a grantor retained annuity trust ("GRAT"). The reporting person is the trustee and sole annuitant of the GRAT.