Iridium director granted 639.6 dividend-equivalent shares
Iridium Communications Inc. director A. B. Krongard reported an automatic acquisition of 639.6 shares of common stock as dividend equivalent rights tied to previously granted restricted stock units.
Rhea-AI Filing Summary
Iridium Communications Inc. director A. B. Krongard reported an automatic acquisition of 639.6 shares of common stock as dividend equivalent rights tied to previously granted restricted stock units. These rights were credited at no cost and follow the same vesting and settlement terms as the original awards.
After this grant, Krongard directly holds 366,541.9 shares of Iridium common stock. An additional 160,983 shares are held in a separate trust for the benefit of the reporting person’s children, for which the reporting person disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 639.6 shares
Grant/Award
2 txns
Insider
Krongard A B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 639.6 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 366,541.9 shares (Direct);
Common Stock — 160,983 shares (Indirect, By Krongard Irrevocable Equity Trust dated June 30, 2009)
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 held in a trust for the benefit of the reporting person's children. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
Key Figures
Dividend equivalent rights granted: 639.6 shares
Direct holdings after transaction: 366,541.9 shares
Indirect trust holdings: 160,983 shares
+3 more
6 metrics
Dividend equivalent rights granted
639.6 shares
Common stock credited on March 31, 2026
Direct holdings after transaction
366,541.9 shares
Common stock held directly by A. B. Krongard
Indirect trust holdings
160,983 shares
Held by Krongard Irrevocable Equity Trust; beneficial ownership disclaimed
Quarterly cash dividend
$0.15 per share
Declared March 5, 2026 on Iridium common stock
Dividend record date
March 16, 2026
Stockholders of record eligible for $0.15 dividend and equivalents
Dividend payment date
March 31, 2026
Scheduled payment of $0.15 cash dividend and related equivalents
Key Terms
dividend equivalent right, restricted stock units, Rule 16b-3, Section 16, +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 upon the settlement of the Original RSUs"
restricted stock units financial
"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.
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.
Section 16 regulatory
"the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
irrevocable trust financial
"These shares are held in a trust for the benefit of the reporting person's children"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Iridium Communications (IRDM) director A. B. Krongard report?
Director A. B. Krongard reported acquiring 639.6 Iridium common shares as dividend equivalent rights linked to existing restricted stock units. These rights cost nothing and follow the same vesting and settlement terms as the original RSU awards.
What triggered the 639.6 dividend equivalent rights reported by Iridium (IRDM) director Krongard?
The 639.6 dividend equivalent rights arose from Iridium’s quarterly cash dividend of $0.15 per share declared on March 5, 2026. These equivalents accrued on restricted stock units outstanding on the March 16, 2026 record date and will settle with the underlying RSUs.
Are the dividend equivalent rights reported by Iridium (IRDM) director Krongard immediately vested shares?
The dividend equivalent rights are not standalone vested shares; they are tied to original RSUs. Each right converts into one share of Iridium common stock only when the related RSUs vest and settle, under the same terms and conditions as those RSUs.
What is the nature of the indirect Iridium (IRDM) holdings disclosed for A. B. Krongard?
The filing shows 160,983 Iridium common shares held by the Krongard Irrevocable Equity Trust dated June 30, 2009. These shares are for the benefit of his children, and Krongard expressly disclaims beneficial ownership of this indirect position for Section 16 purposes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
