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Iridium (IRDM) director adds 639.6 dividend-equivalent shares, discloses trust holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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 Krongard A B
Role Director
Type Security Shares Price Value
Grant/Award Common Stock 639.6 $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 (1)
  1. 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. 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.
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
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"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Krongard A B
(Last)(First)(Middle)
C/O IRIDIUM COMMUNICATIONS INC.
1676 INTERNATIONAL DRIVE, SUITE 1100
(Street)
MCLEAN VIRGINIA 22102
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Iridium Communications Inc. [ IRDM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock(1)03/31/2026A639.6A$0366,541.9D
Common Stock160,983IBy Krongard Irrevocable Equity Trust dated June 30, 2009(2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. 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.
2. 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.
/s/ Peter L. Trentman, Attorney-in-Fact04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

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.

How many Iridium (IRDM) shares does A. B. Krongard hold after this Form 4 filing?

Following the dividend equivalent grant, A. B. Krongard directly holds 366,541.9 shares of Iridium common stock. The filing also notes 160,983 shares in a trust for his children, for which he disclaims beneficial ownership under Section 16 rules.

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.