Iridium director granted shares via dividend equivalents
Alterman Louis M reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Alterman Louis M reported acquisition or exercise transactions in this Form 4 filing.
Iridium Communications director Louis M. Alterman received 74.1 shares of common stock as a stock grant tied to dividend equivalents. These shares were credited at no purchase price in connection with a quarterly cash dividend of $0.15 per share declared on the company’s common stock.
The dividend equivalent rights accrued on previously granted restricted stock units and carry the same vesting and settlement terms as the original awards. After this grant, Alterman directly holds 13,772.1 shares of Iridium common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 74.1 shares
Grant/Award
1 txn
Insider
Alterman Louis M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 74.1 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 13,772.1 shares (Direct)
Footnotes (1)
- 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.
Key Figures
Shares granted: 74.1 shares
Shares held after: 13,772.1 shares
Dividend amount: $0.15 per share
+3 more
6 metrics
Shares granted
74.1 shares
Dividend equivalent rights on restricted stock units
Shares held after
13,772.1 shares
Director’s direct holdings following grant
Dividend amount
$0.15 per share
Quarterly cash dividend declared on common stock
Transaction code
A
Grant, award, or other acquisition of common stock
Transaction date
March 31, 2026
Date dividend equivalent rights were reflected as acquired
Record date
March 16, 2026
Stockholders of record entitled to $0.15 dividend
Key Terms
restricted stock units, dividend equivalent right, quarterly cash dividend, Rule 16b-3
4 terms
restricted stock units financial
"restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person"
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.
dividend equivalent right financial
"Each dividend equivalent right entitles the reporting person to receive one share"
quarterly cash dividend financial
"declared a quarterly cash dividend in the amount of $0.15 per share"
A quarterly cash dividend is a payment made by a company to its shareholders four times a year, usually based on its profits. It is like a regular bonus or reward for owning the company's stock, providing shareholders with income. Many investors see these payments as a sign of the company's stability and its ability to generate consistent profits.
Rule 16b-3 regulatory
"The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Iridium Communications (IRDM) director Louis M. Alterman report on this Form 4?
Louis M. Alterman reported acquiring 74.1 shares of Iridium common stock at no purchase price. These shares reflect dividend equivalent rights credited on his restricted stock units following a declared quarterly cash dividend of $0.15 per share.
Was the Iridium (IRDM) Form 4 transaction an open-market purchase or sale?
The Form 4 transaction was not an open-market trade. Alterman received 74.1 shares as a grant of dividend equivalent rights linked to existing restricted stock units, with no cash price paid per share in the transaction.
What dividend triggered the Iridium (IRDM) dividend equivalent rights for Louis M. Alterman?
A quarterly cash dividend of $0.15 per share on Iridium’s common stock triggered the dividend equivalent rights. The dividend was declared for stockholders of record as of March 16, 2026 and was payable on March 31, 2026.
How do the dividend equivalent rights work for Iridium (IRDM) restricted stock units?
Each dividend equivalent right entitles the holder to receive one share of Iridium common stock when the related restricted stock units settle. These rights follow the same vesting and settlement terms as the original restricted stock unit awards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
