IRDM director's RSU dividend equivalents add 1,145.5 shares

Rhea-AI Filing Summary

Eric T. Olson, a director of Iridium Communications Inc. (IRDM), acquired 1,145.5 dividend-equivalent rights on 09/30/2025 at a reported price of $0. The filing shows 143,745 shares of common stock beneficially owned by Mr. Olson after the transaction, held in a direct form. The acquisition resulted from the company's board-declared quarterly cash dividend of $0.15 per share, payable on 09/30/2025 to shareholders of record on 09/15/2025, and represents dividend equivalents credited on restricted stock units subject to the same vesting and settlement terms as the original RSUs. The grant of these dividend equivalent rights was approved by the board under Rule 16b-3.

Positive

• Dividend-equivalent rights were granted under board approval (Rule 16b-3)
• Transaction maintains alignment of RSU terms by crediting equivalents rather than cash

Negative

• None.

Insights

Corporate Governance Expert

Director received dividend-equivalent rights on RSUs; ownership updated to reflect accruals.

The Form 4 reports a non‑cash acquisition of 1,145.5 dividend-equivalent rights on 09/30/2025, tied to existing restricted stock units. This is an administrative equity compensation adjustment triggered by the board's declared dividend of $0.15 per share.

The filing shows 143,745 shares beneficially owned following the accrual, recorded as direct ownership. Board approval under Rule 16b-3 indicates the action followed the safe-harbor framework for insider awards and waives no disclosure requirement.

Executive Compensation Specialist

Dividend-equivalent rights credited on RSUs instead of cash payout.

The explanatory note states each dividend equivalent right entitles the holder to one share upon RSU settlement and is subject to the same vesting and settlement conditions as the Original RSUs. The reported transaction code and zero price ($0) confirm these are dividend accruals, not open-market purchases.

Because these rights mirror RSU terms, the practical effect is a future share issuance tied to vesting rather than immediate cash, preserving the original RSU alignment with long-term incentive goals.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Olson Eric T

(Last) (First) (Middle)

C/O IRIDIUM COMMUNICATIONS INC.

1750 TYSONS BOULEVARD, SUITE 1400

(Street)

MCLEAN VA 22102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Iridium Communications Inc. [ IRDM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	09/30/2025		A		1,145.5	A	$0	143,745	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On July 23, 2025, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.15 per share of its common stock, payable on September 30, 2025 to stockholders of record of the common stock at the close of business on September 15, 2025 (the "Dividend"). The amount acquired in column 4 represents equivalent rights accrued as a result of the Dividend on restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person. 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.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Patrick McClain, Attorney-in-Fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Iridium director Eric T. Olson acquire on 09/30/2025 (IRDM)?

He acquired 1,145.5 dividend-equivalent rights related to restricted stock units, recorded at a price of $0.

Why were dividend-equivalent rights granted to the reporting person?

They were credited because the board declared a quarterly cash dividend of $0.15 per share payable on 09/30/2025, with record date 09/15/2025.

How many shares does Eric T. Olson beneficially own after the transaction?

The Form 4 reports 143,745 shares beneficially owned following the reported transaction.

Are the dividend equivalents immediately vested shares?

No; each dividend equivalent right is subject to the same vesting and settlement terms as the Original RSUs and will convert to one share upon settlement.

Was the grant of these dividend equivalents approved by the board?

Yes; the grant was approved by the board of directors pursuant to Rule 16b-3.