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Iridium Communications Inc. — Director's Dealing 2021
Mar 3, 2021
31757_dirs_2021-03-03_aeed9ec0-dc0c-4b47-ae30-0dde303fc912.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Iridium Communications Inc. (IRDM)
CIK: 0001418819
Period of Report: 2021-03-01
Reporting Person: Kapalka Timothy (VP Iridium Satellite LLC)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2021-03-01 | Common Stock | M | 3125 | $11.25 | Acquired | 26111 | Direct |
| 2021-03-01 | Common Stock | S | 3125 | $39.26 | Disposed | 22986 | Direct |
| 2021-03-01 | Common Stock | F | 1371 | $41.91 | Disposed | 21615 | Direct |
| 2021-03-01 | Common Stock | A | 3937 | $0.00 | Acquired | 25552 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-03-01 | Employee Stock Option (Right to Buy) | $11.25 | M | 3125 | Disposed | 2027-09-01 | Common Stock (3125) | Direct |
Footnotes
F1: This exercise and corresponding sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 6, 2020, as amended on November 5, 2020.
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 restricted stock units.
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 unit award, 25% shall vest on March 1, 2022 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, 2025, subject to the reporting person's continuous service with the issuer as of each such vesting date.
F4: The shares underlying the portion of the option exercised and reported herein were vested and exercisable as of March 1, 2021. The remaining shares underlying the option vest in two equal quarterly installments beginning on June 1, 2021, so that all shares will be vested as of September 1, 2021, subject to the Reporting Person's continuous service with the Issuer as of each such vesting date.