Iridium director Canfield acquires 734 stock rights
Each right corresponds to one common share upon settlement and follows the underlying restricted stock units’ vesting and settlement terms.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Iridium Communications Inc. director Thomas C. Canfield acquired 734 dividend equivalent rights on September 30, 2026, tied to restricted stock units. Each right entitles him to one common share upon settlement and is subject to the units’ vesting and settlement terms. The rights accrued from the company’s $0.15-per-share quarterly cash dividend, payable that day. Following the acquisition, Canfield directly held 235,028 common shares. As of September 30, 2026, his 2017 grantor retained annuity trust held 36,682 common shares; Canfield was its trustee and sole annuitant.
Insider Trade Summary
Grant/Award: 733.7 shares
Grant/Award
2 txns
Insider
Canfield Thomas C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 733.7 | $0.00 | $0.00 |
| holding | Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 235,027.8 shares (Direct);
Common Stock — 36,682 shares (Indirect, By Thomas C. Canfield 2017 GRAT)
Footnotes (2)
- F1. On August 10, 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 September 30, 2026 to stockholders of record of the common stock at the close of business on September 15, 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 acquired: 734 rights
Shares per dividend equivalent right: 1 common share
Quarterly cash dividend: $0.15 per common share
+2 more
5 metrics
Dividend equivalent rights acquired
734 rights
September 30, 2026; each right entitles the holder to one common share upon settlement
Shares per dividend equivalent right
1 common share
Upon settlement of the related restricted stock units
Quarterly cash dividend
$0.15 per common share
Payable September 30, 2026
Direct common shares following acquisition
235,028 shares
Following the September 30, 2026 acquisition
Common shares held by 2017 GRAT
36,682 shares
As of September 30, 2026; Thomas C. Canfield was trustee and sole annuitant
Key Terms
dividend equivalent right, restricted stock units, grantor retained annuity trust, Rule 16b-3
4 terms
dividend equivalent right financial
"Each dividend equivalent right entitles the reporting person to receive one share"
restricted stock units financial
"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"
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
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many IRDM dividend equivalent rights did Thomas C. Canfield acquire?
Thomas C. Canfield acquired 734 dividend equivalent rights on September 30, 2026. Each right entitles him to one common share upon settlement and is subject to the related restricted stock units’ vesting and settlement terms.
What dividend created Thomas C. Canfield’s IRDM dividend equivalent rights?
Iridium’s board declared a quarterly cash dividend of $0.15 per common share on August 10, 2026, payable September 30, 2026 to holders of record at the close of business on September 15, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
