Silver Heights discloses 5.01% Iridium (IRDM) stake in filing

Rhea-AI Filing Summary

Silver Heights Capital Management Inc. filed an amended Schedule 13G reporting a significant ownership position in Iridium Communications Inc. common stock. The firm reports beneficial ownership of 5,251,133 shares, representing 5.01% of the class as of 12/31/2025.

Silver Heights has sole voting and dispositive power over 3,966,012 shares and shared voting and dispositive power over 1,285,121 shares. The firm certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Iridium.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Iridium Communications Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

46269C102

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 46269C102

1

Names of Reporting Persons

Silver Heights Capital Management Inc

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,966,012.00
6	Shared Voting Power 1,285,121.00
7	Sole Dispositive Power 3,966,012.00
8	Shared Dispositive Power 1,285,121.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,251,133.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Iridium Communications Inc.
(b)	Address of issuer's principal executive offices: 1750 TYSONS BOULEVARD, 1750 TYSONS BOULEVARD, MCLEAN, VIRGINIA, 22102.
Item 2.
(a)	Name of person filing: Silver Heights Capital Management Inc.
(b)	Address or principal business office or, if none, residence: 333 Bay Street, Suite 1140, Toronto, Ontario, M5H 2R2
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 46269C102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,251,133
(b)	Percent of class: 5.01%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,966,012
	(ii) Shared power to vote or to direct the vote: 1,285,121
	(iii) Sole power to dispose or to direct the disposition of: 3,966,012
	(iv) Shared power to dispose or to direct the disposition of: 1,285,121
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Silver Heights Capital Management Inc

Signature:	/s/Trish Campbell
Name/Title:	Chief Compliance Officer
Date:	02/13/2026

FAQ

What ownership stake does Silver Heights report in Iridium Communications (IRDM)?

Silver Heights reports beneficial ownership of 5,251,133 Iridium shares, representing 5.01% of the company’s common stock. This crosses the 5% disclosure threshold, requiring a Schedule 13G/A filing to report its position and related voting and dispositive powers.

How much voting power does Silver Heights have over IRDM shares?

Silver Heights reports sole voting power over 3,966,012 shares and shared voting power over 1,285,121 shares of Iridium common stock. These figures show how many shares it can directly vote alone versus in coordination with others under existing arrangements.

Is Silver Heights’ Iridium (IRDM) stake intended to influence control of the company?

Silver Heights certifies that its Iridium shares were acquired and are held in the ordinary course of business. It states they were not acquired and are not held for the purpose of changing or influencing control of Iridium Communications Inc.

What type of SEC filing did Silver Heights submit for its IRDM position?

Silver Heights filed an Amendment No. 1 to Schedule 13G regarding Iridium Communications Inc. common stock. Schedule 13G is used by certain institutional or passive investors to report large ownership stakes once they exceed 5% of a class.

When is the ownership information for Iridium (IRDM) in this filing effective?

The reported ownership information is tied to an event date of December 31, 2025. As of that date, Silver Heights’ beneficial ownership in Iridium common stock totaled 5,251,133 shares, representing 5.01% of the outstanding class according to the filing.

Who signed the Schedule 13G/A reporting Silver Heights’ IRDM holdings?

The filing was signed by Trish Campbell, identified as Chief Compliance Officer of Silver Heights Capital Management Inc. The signature section certifies, after reasonable inquiry, that the information provided is true, complete, and correct as of the stated date.