Iridium Communications Inc. — Director's Dealing 2019

Mar 5, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Iridium Communications Inc. (IRDM)
CIK: 0001418819
Period of Report: 2019-03-01

Reporting Person: Smith S. Scott (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-01	Common Stock	F	2942	$23.15	Disposed	213525	Direct
2019-03-01	Common Stock	F	3518	$23.15	Disposed	210007	Direct
2019-03-01	Common Stock	A	24158	$0.00	Acquired	234165	Direct
2019-03-01	Common Stock	F	5368	$23.15	Disposed	228797	Direct
2019-03-04	Common Stock	A	11967	$0.00	Acquired	240764	Direct
2019-03-04	Common Stock	F	5319	$22.90	Disposed	235445	Direct
2019-03-04	Common Stock	M	2500	$8.31	Acquired	237945	Direct
2019-03-04	Common Stock	S	2500	$22.86	Disposed	235445	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-04	Employee Stock Option (Right to Buy)	$8.31	M	2500	Disposed	2021-02-21	Common Stock (2500)	Direct

Footnotes

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: 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 a restricted stock unit award that previously vested with respect to one-half of the shares underlying the award on March 1, 2018. The amount being reported herein represents amounts withheld to satisfy tax withholding obligations in connection with the vesting and settlement of the remaining one-half on March 1, 2019.

F3: 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 award, one-half vested on March 1, 2019 and the remainder will vest on March 1, 2020, subject to the reporting person's continuous service with the issuer as of the vesting date.

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.

F5: 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 4, 2019.

F6: 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 (5) herein.

F7: These exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 8, 2018.

F8: The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $22.61 to $23.25, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F9: Immediately exercisable.