Form 4: Iridium CFO Thomas Fitzpatrick Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Thomas Fitzpatrick, CFO of Iridium Communications Inc., reports the withholding of shares by the issuer to cover tax obligations related to the vesting of restricted stock units.
Summary
- On September 1, 2024, Thomas Fitzpatrick, CFO of Iridium Communications Inc., had 2,016 shares of common stock withheld by the issuer to satisfy tax obligations.
- This transaction occurred at a price of $25.8 per share.
- Following the transaction, Fitzpatrick beneficially owns 245,156 shares of Iridium Communications Inc.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction (share withholding for tax obligations), which is neither particularly positive nor negative. It's a neutral event in the context of insider trading regulations.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations related to stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| 09/01/2024 | Date of share withholding transaction. |
| 09/04/2024 | Date of signature on the Form 4 filing. |
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