Iridium director granted 95.4 dividend-equivalent shares
Iridium Communications Inc. director Thomas Fitzpatrick acquired 95.4 shares of common stock on a grant/award basis tied to existing restricted stock units.
Rhea-AI Filing Summary
Iridium Communications Inc. director Thomas Fitzpatrick acquired 95.4 shares of common stock on a grant/award basis tied to existing restricted stock units. These shares reflect dividend equivalent rights stemming from a $0.15 quarterly cash dividend declared on March 5, 2026.
The dividend is payable on March 31, 2026 to stockholders of record as of March 16, 2026. Each dividend equivalent right will deliver one share upon settlement of the related restricted stock units, under the same vesting and settlement terms. Following this award, Fitzpatrick directly holds 267,490.1 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 95.4 shares
Grant/Award
1 txn
Insider
FITZPATRICK THOMAS
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 95.4 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 267,490.1 shares (Direct)
Footnotes (1)
- 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.
Key Figures
Shares acquired: 95.4 shares
Post-transaction holdings: 267,490.1 shares
Quarterly dividend: $0.15 per share
+2 more
5 metrics
Shares acquired
95.4 shares
Dividend equivalent rights credited on restricted stock units
Post-transaction holdings
267,490.1 shares
Common stock directly held after the award
Quarterly dividend
$0.15 per share
Cash dividend declared on common stock on March 5, 2026
Dividend record date
March 16, 2026
Stockholders of record at close of business are eligible
Dividend payment date
March 31, 2026
Scheduled payment date for the $0.15 per-share dividend
Key Terms
restricted stock units, dividend equivalent right, quarterly cash dividend, Rule 16b-3
4 terms
restricted stock units financial
"restricted stock units with respect to the Issuer's common stock ("Original RSUs")"
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.
dividend equivalent right financial
"Each dividend equivalent right entitles the reporting person to receive one share"
quarterly cash dividend financial
"declared a quarterly cash dividend in the amount of $0.15 per share"
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.
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.
What did Iridium (IRDM) director Thomas Fitzpatrick report in this Form 4?
Thomas Fitzpatrick reported acquiring 95.4 shares of Iridium common stock through a grant tied to restricted stock units. The acquisition reflects dividend equivalent rights credited rather than an open-market purchase, and increases his direct holdings to 267,490.1 shares.
What dividend did Iridium (IRDM) declare that led to these dividend equivalents?
Iridium’s board declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on March 31, 2026 to stockholders of record at the close of business on March 16, 2026, triggering dividend equivalent rights on certain restricted stock units.
Was the Iridium (IRDM) dividend-equivalent grant to Thomas Fitzpatrick approved by the board?
Yes, the grant of dividend equivalent rights on the restricted stock units was approved by Iridium’s board of directors. The approval was made pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, which governs certain insider-related equity awards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
