Iridium Communications Inc. — Director's Dealing 2023

Oct 3, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Iridium Communications Inc. (IRDM)
CIK: 0001418819
Period of Report: 2023-05-09

Reporting Person: NIEHAUS ROBERT H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-09	Common Stock	A	237	$63.16	Acquired	247287.8	Direct
2023-09-29	Common Stock	A	339.9	$0.00	Acquired	247627.7	Direct

Footnotes

F1: This security represents restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer.

F2: The shares underlying this restricted stock unit award vest in full on May 9, 2024, subject to the reporting person's continued service with the Issuer.

F3: The restricted stock units were issued to the reporting person pursuant to the Issuer's director compensation plan in lieu of committee member fees in the amount of $15,000, representing a prorated portion of the Issuer's standard annual audit committee member retainer.

F4: Amount beneficially owned following the transaction reflects the non-reportable cancellation of 71 restricted stock units previously granted to the reporting person upon his resignation from the Issuer's compensation committee concurrently with his appointment to the Issuer's audit committee.

F5: On September 5, 2023, 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 September 29, 2023 to stockholders of record of the common stock at the close of business on September 15, 2023 (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.