Baron Capital Reports 8,377,907 Iridium Shares (7.75%)

Rhea-AI Filing Summary

Iridium Communications' common stock is held by Baron reporting persons in an aggregate amount of 8,377,907 shares, representing 7.75% of the class. The filing reports shared voting power of 8,239,684 shares and shared dispositive power of 8,377,907 shares, with no sole voting or dispositive power reported. Reporting entities include Baron Capital Group, BAMCO, Baron Capital Management, Ronald Baron and Baron Growth Fund. BAMCO and BCM are disclosed as subsidiaries of Baron Capital Group and Baron Growth Fund is an advisory client; Ronald Baron is identified as having a controlling interest in Baron Capital Group. The filing certifies holdings are held in the ordinary course and not for the purpose of changing control.

Positive

• Material ownership disclosed: Aggregate position of 8,377,907 shares representing 7.75% of Iridium common stock.
• Passive intent certified: Filing includes certification that holdings are held in the ordinary course and not for the purpose of changing control.

Negative

• None.

Insights

Securities Analyst

TL;DR: Baron-affiliated entities report a material 7.75% passive stake in Iridium, with substantial shared voting and dispositive power.

The filing documents a >5% ownership position of 8,377,907 shares (7.75%) held across Baron entities and an individual. Shared voting power is 8,239,684 and shared dispositive power equals the aggregate shares reported. The schedule is filed under 13G and includes a certification that the position is held in the ordinary course and not to influence control, which signals a passive disclosure rather than an active campaign to change governance. The ownership structure shows parent-subsidiary and advisory relationships that consolidate reported holdings for disclosure purposes.

Corporate Governance Expert

TL;DR: The disclosed group has meaningful shareholder weight but explicitly reports no intent to affect control under the Schedule 13G certification.

The report identifies Baron Capital Group, BAMCO, Baron Capital Management, Ronald Baron and Baron Growth Fund as reporting persons and notes that BAMCO and BCM are subsidiaries of Baron Capital Group while Baron Growth Fund is an advisory client. Ronald Baron is identified as controlling Baron Capital Group. The combination of shared voting power and shared dispositive power indicates coordinated holdings for disclosure, but the filing's certification states the position is held in the ordinary course and not for changing control, which limits immediate governance implications based on the filing alone.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 13)

Iridium Communications Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

46269C102

(CUSIP Number)

06/30/2025

(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

BAMCO INC /NY/

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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,603,316.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,741,539.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,741,539.00

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)

7.16 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

CUSIP No. 46269C102

1

Names of Reporting Persons

Baron Capital Group, 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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,239,684.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,377,907.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,377,907.00

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)

7.75 %

12

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13G

CUSIP No. 46269C102

1

Names of Reporting Persons

Baron 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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 636,368.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 636,368.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

636,368.00

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)

0.59 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

CUSIP No. 46269C102

1

Names of Reporting Persons

Ronald Baron

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,239,684.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,377,907.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,377,907.00

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)

7.75 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 46269C102

1

Names of Reporting Persons

Baron Growth Fund

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 590,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 590,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

590,000.00

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)

5.45 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Iridium Communications Inc.
(b)	Address of issuer's principal executive offices: 1750 TYSONS BOULEVARD, SUITE 1400, MCLEAN, VA 22102
Item 2.
(a)	Name of person filing: Baron Capital Group, Inc. ("BCG"), BAMCO, Inc. ("BAMCO"), Baron Capital Management, Inc. ("BCM"), Ronald Baron, Baron Growth Fund ("BGF")
(b)	Address or principal business office or, if none, residence: 767 Fifth Avenue, 49th Floor, New York, NY 10153
(c)	Citizenship: BCG, BAMCO and BCM are New York corporations. Ronald Baron is a citizen of the United States. BGF is a series of a Massachusetts Business Trust.
(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: 8,377,907
(b)	Percent of class: 7.75 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 8,239,684
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 8,377,907
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The advisory clients of BAMCO and BCM have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Issuer's common stock in their accounts. To the best of the Filing Persons' knowledge, no such person has such interest relating to more than 5% of the outstanding class of securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. BAMCO and BCM are subsidiaries of BCG. BGF is an advisory client of BAMCO. Ronald Baron owns a controlling interest in BCG.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Item 3.
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.

BAMCO INC /NY/

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Baron Capital Group, Inc.

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Baron Capital Management, Inc.

Signature:	/s/ Ronald Baron
Name/Title:	Chairman and CEO
Date:	08/14/2025

Ronald Baron

Signature:	/s/ Ronald Baron
Name/Title:	Individually
Date:	08/14/2025

Baron Growth Fund

Signature:	/s/ Ronald Baron
Name/Title:	CEO
Date:	08/14/2025

Comments accompanying signature: Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

FAQ

How many IRDM shares did Baron-affiliated parties report owning?

The filing reports an aggregate of 8,377,907 shares, equal to 7.75% of the common stock.

What voting and dispositive powers are reported for the Baron group on IRDM?

The schedule shows shared voting power of 8,239,684 shares and shared dispositive power of 8,377,907 shares; no sole powers are reported.

Which entities filed the Schedule 13G/A for IRDM?

Reporting persons listed are Baron Capital Group, Inc., BAMCO, Inc., Baron Capital Management, Inc., Ronald Baron and Baron Growth Fund.

Does the filing indicate an intent to influence Iridium's control?

No. The filing contains a certification stating the securities are held in the ordinary course of business and were not acquired to change or influence control.

What relationships among the filers are disclosed?

The document states that BAMCO and BCM are subsidiaries of Baron Capital Group, Baron Growth Fund is an advisory client, and Ronald Baron owns a controlling interest in Baron Capital Group.