Iridium Communications (IRDM) director returns small RSU grant to issuer
Rhea-AI Filing Summary
Iridium Communications Inc. director Thomas C. Canfield reported a small administrative change in his holdings. He forfeited 135.7 shares of common stock back to the company at $0.00 per share when restricted stock units tied to a board committee role were cancelled after he stopped serving on that committee.
After this disposition to the issuer, he directly holds 233,655.1 shares of common stock and indirectly holds 36,682 shares through a grantor retained annuity trust where he is trustee and sole annuitant. No open-market buying or selling occurred in this filing.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 135.7 shares
Net Sell
2 txns
Insider
Canfield Thomas C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 135.7 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 233,655.1 shares (Direct);
Common Stock — 36,682 shares (Indirect, By Thomas C. Canfield 2017 GRAT)
Footnotes (2)
- F1. Reflects the forfeiture of certain restricted stock units that were granted to the reporting person on January 6, 2026 pursuant to the issuer's director compensation plan in lieu of annual cash committee member fees for service as a member of the issuer's Nominating and Corporate Governance Committee (the "Committee"), which forfeiture resulted from the reporting person's cessation of service on the Committee. Each restricted stock unit represented a contingent right to receive one share of common stock of the issuer.
- F2. These shares are owned by a grantor retained annuity trust ("GRAT"). The reporting person is the trustee and sole annuitant of the GRAT.
Key Figures
Shares forfeited: 135.7 shares
Disposition price: $0.00 per share
Direct holdings after transaction: 233,655.1 shares
+1 more
4 metrics
Shares forfeited
135.7 shares
Restricted stock units returned to issuer
Disposition price
$0.00 per share
Forfeited RSUs to issuer
Direct holdings after transaction
233,655.1 shares
Common stock directly owned post-disposition
Indirect holdings after transaction
36,682 shares
Common stock held via 2017 GRAT
Key Terms
restricted stock units, disposition to issuer, grantor retained annuity trust ("GRAT"), director compensation plan
4 terms
restricted stock units financial
"Reflects the forfeiture of certain restricted stock units that were granted"
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.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
grantor retained annuity trust ("GRAT") financial
"These shares are owned by a grantor retained annuity trust ("GRAT")."
director compensation plan financial
"granted to the reporting person on January 6, 2026 pursuant to the issuer's director compensation plan"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Iridium Communications (IRDM) report for Thomas C. Canfield?
Iridium Communications reported that director Thomas C. Canfield forfeited 135.7 shares of common stock back to the company. The shares came from restricted stock units tied to a board committee role that ended, so this was a compensation adjustment rather than an open-market trade.
Was the Iridium Communications (IRDM) Form 4 transaction a market sale or purchase?
The Form 4 transaction was not a market sale or purchase. Canfield’s 135.7 shares were returned to Iridium Communications at $0.00 per share when related restricted stock units were forfeited after he left a board committee, making it an administrative disposition to the issuer.
What caused the restricted stock unit forfeiture reported for Iridium Communications (IRDM)?
The forfeiture occurred because Canfield stopped serving on Iridium’s Nominating and Corporate Governance Committee. The restricted stock units had been granted instead of cash committee fees, and ending his committee role triggered cancellation of 135.7 units, each representing one common share.
How are indirect Iridium Communications (IRDM) holdings structured for Thomas C. Canfield?
Canfield’s indirect Iridium holdings are owned by a grantor retained annuity trust. He is the trustee and sole annuitant of this GRAT, which holds 36,682 common shares. The Form 4 identifies this trust structure to clarify how part of his ownership is held.