Iridium director granted 1,257 dividend equivalents
Iridium Communications Inc. director Thomas C. Canfield recorded an acquisition of 1,257.4 common shares through dividend equivalent rights tied to restricted stock units.
Rhea-AI Filing Summary
Iridium Communications Inc. director Thomas C. Canfield recorded an acquisition of 1,257.4 common shares through dividend equivalent rights tied to restricted stock units. These rights arose from a $0.15 per-share quarterly cash dividend declared on the company’s common stock, payable on March 31, 2026.
Each dividend equivalent right will deliver one common share when the related restricted stock units settle, under the same vesting and settlement terms. After this award, Canfield directly holds 233,790.8 common shares and indirectly holds 36,682 common shares through the Thomas C. Canfield 2017 grantor retained annuity trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 1,257.4 shares
Grant/Award
2 txns
Insider
Canfield Thomas C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,257.4 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 233,790.8 shares (Direct);
Common Stock — 36,682 shares (Indirect, By Thomas C. Canfield 2017 GRAT)
Footnotes (2)
- F1. On March 5, 2026, the Issuer's board of directors declared a quarterly cash dividend in the amount of $0.15 per share of its common stock, payable on March 31, 2026 to stockholders of record of the common stock at the close of business on March 16, 2026 (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.
- F2. These shares are owned by a grantor retained annuity trust ("GRAT"). The reporting person is the trustee and sole annuitant of the GRAT.
Key Figures
Dividend equivalent rights granted: 1,257.4 shares
Quarterly cash dividend: $0.15 per share
Direct holdings after transaction: 233,790.8 shares
+3 more
6 metrics
Dividend equivalent rights granted
1,257.4 shares
Common stock rights tied to restricted stock units
Quarterly cash dividend
$0.15 per share
Declared March 5, 2026 on common stock
Direct holdings after transaction
233,790.8 shares
Common stock held directly by Canfield
Indirect trust holdings
36,682 shares
Held by 2017 GRAT where Canfield is trustee and annuitant
Dividend payment date
March 31, 2026
Cash dividend payable date for common stock
Dividend record date
March 16, 2026
Stockholders of record eligible for dividend
Key Terms
dividend equivalent right, restricted stock units, grantor retained annuity trust, Rule 16b-3, +1 more
5 terms
dividend equivalent right financial
"Each dividend equivalent right entitles the reporting person to receive one share of the Issuer's common stock"
restricted stock units financial
"represents equivalent rights accrued as a result of the Dividend on restricted stock units with respect to the Issuer's common stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
grantor retained annuity trust financial
"These shares are owned by a grantor retained annuity trust ("GRAT")."
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
Rule 16b-3 regulatory
"The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
quarterly cash dividend financial
"declared a quarterly cash dividend in the amount of $0.15 per share of its common stock"
A quarterly cash dividend is a payment made by a company to its shareholders four times a year, usually based on its profits. It is like a regular bonus or reward for owning the company's stock, providing shareholders with income. Many investors see these payments as a sign of the company's stability and its ability to generate consistent profits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Thomas C. Canfield acquire in this Iridium (IRDM) Form 4 filing?
Thomas C. Canfield acquired 1,257.4 Iridium common shares through dividend equivalent rights on restricted stock units. These rights convert into shares upon RSU settlement, reflecting routine, compensation-related accrual from an approved dividend, not an open-market stock purchase or sale.
Why were dividend equivalent rights granted to the Iridium (IRDM) director?
Dividend equivalent rights were granted because Iridium declared a $0.15 per-share quarterly cash dividend on its common stock. The award compensates restricted stock unit holders by crediting equivalent rights that mirror the dividend, to be settled in shares under the original RSU terms.
Was this Iridium (IRDM) Form 4 transaction an open-market stock purchase or sale?
No, the Form 4 transaction was not an open-market trade. It reflects a grant of 1,257.4 dividend equivalent rights on restricted stock units, approved under Rule 16b-3. These rights will convert into common shares when the related RSUs vest and settle.
What dividend led to the dividend equivalent rights in Iridium (IRDM) stock?
The rights stem from Iridium’s quarterly cash dividend of $0.15 per common share. The dividend was declared on March 5, 2026, with a record date of March 16, 2026, and was payable on March 31, 2026 to stockholders of record.
AI-generated analysis. How Rhea-AI works. Not financial advice.
