IRDM Form 4: Kay Sears credited with 57.5 RSU dividend equivalents

Rhea-AI Filing Summary

Iridium Communications, Inc. (IRDM) director Kay Sears reported on Form 4 that on 09/30/2025 she acquired 57.5 dividend-equivalent rights tied to restricted stock units at a $0 price, and following the transaction beneficial ownership is shown as 19,145.3 shares. The acquisition represents dividend equivalents attributable to the issuer's quarterly cash dividend of $0.15 per share declared on 07/23/2025, payable on 09/30/2025 to holders of record as of 09/15/2025. The filing notes these dividend-equivalent rights will settle into common stock under the same terms and vesting as the original restricted stock units and were approved by the board under Rule 16b-3.

Positive

• 57.5 dividend-equivalent rights were credited to the reporting person
• Grant was approved by the board under Rule 16b-3, meeting exemption conditions
• Dividend equivalents will settle into common stock under the same vesting terms as original RSUs

Negative

• None.

Insights

Corporate Governance Analyst

Director received dividend-equivalent rights of 57.5 shares tied to RSUs from the July dividend.

This Form 4 documents a non-cash grant: 57.5 dividend-equivalent rights were credited on 09/30/2025 and are to convert to common shares upon RSU settlement under the same vesting terms. The grant was approved by the board pursuant to Rule 16b-3, which governs insider transactions that are exempt from liability when certain conditions are met.

Because these are dividend equivalents (priced at $0 in the form), the change is an accrual tied to the announced $0.15 per-share cash dividend rather than a market purchase or option exercise. This is a routine compensation-related reporting item rather than a cash-market disclosure.

Monitorable item: the dividend payment and record dates are concrete: record date 09/15/2025, payable 09/30/2025.

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
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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^*

Sears Kay

(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		57.5	A	$0	19,145.3	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.

FAQ

What transaction did Kay Sears report on Form 4 for IRDM?

On 09/30/2025 Kay Sears reported the acquisition of 57.5 dividend-equivalent rights tied to restricted stock units, at a reported price of $0.

Why were dividend-equivalent rights granted to the reporting person?

They represent equivalents accrued from the issuer's quarterly cash dividend of $0.15 per share declared on 07/23/2025, payable 09/30/2025 to holders of record on 09/15/2025.

How many shares does Kay Sears beneficially own after the reported transaction?

The Form 4 shows 19,145.3 shares beneficially owned following the reported transaction.

Was the transaction an open-market purchase or board-approved grant?

The filing states the dividend-equivalent grant was approved by the board pursuant to Rule 16b-3, not an open-market purchase.

Who signed the Form 4 filing for the reporting person?

The form was signed by Patrick McClain, Attorney-in-Fact on 10/02/2025.