Iridium director awarded 182.4 dividend shares
Iridium Communications Inc. director Leon Anthony Frazier reported an acquisition of 182.4 shares of common stock at $0.00 per share.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Iridium Communications Inc. director Leon Anthony Frazier reported an acquisition of 182.4 shares of common stock at $0.00 per share. These shares reflect dividend equivalent rights tied to existing restricted stock units after a declared quarterly cash dividend of $0.15 per share. Following this grant, he directly holds 46,411.3 shares of Iridium common stock.
Insider Trade Summary
Grant/Award: 182.4 shares
Grant/Award
1 txn
Insider
FRAZIER LEON ANTHONY
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 182.4 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 46,411.3 shares (Direct)
Holdings Before and After:
Common Stock, 46,228.9 to 46,411.3 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 granted: 182.4 shares
Shares held after transaction: 46,411.3 shares
Dividend per share: $0.15 per share
+3 more
6 metrics
Shares granted
182.4 shares
Dividend equivalent rights credited on RSUs
Shares held after transaction
46,411.3 shares
Direct holdings after Form 4 transaction
Dividend per share
$0.15 per share
Quarterly cash dividend on common stock
Dividend declaration date
March 5, 2026
Board declared quarterly cash dividend
Dividend record date
March 16, 2026
Stockholders of record eligible for dividend
Dividend payment date
March 31, 2026
Payment date for quarterly cash dividend
Key Terms
restricted stock units, dividend equivalent right, quarterly cash dividend, Rule 16b-3, +1 more
5 terms
restricted stock units financial
"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"
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 of the Issuer's common stock upon the settlement"
quarterly cash dividend financial
"the Issuer's board of directors 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.
Rule 16b-3 regulatory
"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"
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.
stockholders of record financial
"payable on March 31, 2026 to stockholders of record of the common stock at the close of business on March 16, 2026"
Stockholders of record are the people or entities whose names appear on a company's official shareholder list on a specific cutoff date set by the company or its transfer agent; only those listed are entitled to receive dividends, vote at shareholder meetings, or participate in other corporate actions. Think of it like a guest list for an event: being on the list on the set day determines who gets the benefits and rights, so investors must own shares before the cutoff to qualify.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Iridium Communications (IRDM) director Leon Frazier report on this Form 4?
Leon Anthony Frazier reported receiving 182.4 shares of Iridium common stock at no cost. These shares represent dividend equivalent rights credited on existing restricted stock units, increasing his direct holdings to 46,411.3 shares after the transaction.
What are dividend equivalent rights mentioned in the Iridium (IRDM) Form 4 filing?
Dividend equivalent rights give Leon Frazier additional shares linked to his restricted stock units when Iridium pays dividends. Each right entitles him to one share upon settlement and follows the same vesting and settlement terms as the original restricted stock units.
Under what rule was the Iridium (IRDM) dividend equivalent grant to Leon Frazier approved?
The grant of dividend equivalent rights to Leon Frazier was approved by Iridium’s board of directors under Rule 16b-3 of the Securities Exchange Act of 1934, which governs certain insider transactions and compensation-related awards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
