IRDM Form 4: Director Acquires 193.4 Dividend‑Equivalent Shares

Iridium Communications director Leon Anthony Frazier reported an acquisition of 193.4 common‑share equivalents on 09/30/2025, recorded as dividend equivalent rights tied to previously granted restricted stock units.

Rhea-AI Filing Summary

Iridium Communications director Leon Anthony Frazier reported an acquisition of 193.4 common‑share equivalents on 09/30/2025, recorded as dividend equivalent rights tied to previously granted restricted stock units. The dividend equivalents were granted in connection with the board’s declaration of a $0.15 per‑share quarterly cash dividend payable on 09/30/2025 to holders of record on 09/15/2025. The dividend equivalents carry the same vesting and settlement terms as the original RSUs and were granted under Rule 16b‑3. After this transaction the reporting person beneficially owned 35,210.9 shares (direct).

Positive

• 193.4 dividend equivalent rights acquired tied to existing RSUs
• Grant approved under Rule 16b‑3, indicating procedural compliance
• Reporting person beneficially owns 35,210.9 shares following transaction

Negative

• None.

Insights

Insider Transactions Analyst

Director acquired 193.4 dividend equivalent shares tied to RSUs on 09/30/2025.

The filing shows the acquisition was recorded as dividend equivalent rights created when the board declared a $0.15 per‑share dividend payable on 09/30/2025 to holders of record on 09/15/2025. These equivalents will settle into common stock under the same vesting and settlement terms as the underlying RSUs.

The grant was approved pursuant to Rule 16b‑3, indicating it follows the safe harbor for transactions between the company and its insiders; no cash was paid for the acquired equivalents (price recorded as $0).

Insider Trade Summary

Grant/Award: 193.4 shares

Grant/Award 1 txn

Insider FRAZIER LEON ANTHONY

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	193.4	$0.00	$0.00

Holdings After Transaction: Common Stock — 35,210.9 shares (Direct)

Footnotes (1)

1. F1. On July 23, 2025, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.15 per share of its common stock, payable on September 30, 2025 to stockholders of record of the common stock at the close of business on September 15, 2025 (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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did IRDM director Leon Anthony Frazier report on Form 4?

He reported acquisition of 193.4 dividend equivalent rights on 09/30/2025, tied to existing restricted stock units.

Why were the 193.4 shares recorded as acquired at $0?

They are dividend equivalent rights granted on RSUs and recorded at $0 because they represent accrued dividend equivalents, not a cash purchase.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 shows beneficial ownership of 35,210.9 shares following the reported transaction.

When was the associated cash dividend declared and payable?

The board declared a $0.15 per‑share quarterly dividend on 07/23/2025, payable on 09/30/2025 to holders of record on 09/15/2025.

Was the grant approved under insider transaction safe harbor rules?

Yes, the grant of dividend equivalent rights was approved by the board pursuant to Rule 16b‑3 of the Securities Exchange Act.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/02/2025 - 05:55 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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).

1. Name and Address of Reporting Person^*

FRAZIER LEON ANTHONY

(Last) (First) (Middle)

C/O IRIDIUM COMMUNICATIONS INC.

1750 TYSONS BOULEVARD, SUITE 1400

(Street)

MCLEAN VA 22102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Iridium Communications Inc. [ IRDM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	09/30/2025		A		193.4	A	$0	35,210.9	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On July 23, 2025, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.15 per share of its common stock, payable on September 30, 2025 to stockholders of record of the common stock at the close of business on September 15, 2025 (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.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Patrick McClain, Attorney-in-Fact	10/02/2025
	** Signature of Reporting Person	Date
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.