Form 4: Iridium Communications Director A.B. Krongard Reports Beneficial Ownership Changes
SEC Form 4 Filing
Director A.B. Krongard reports changes in beneficial ownership of Iridium Communications stock, including dividend equivalent rights and transfers from a grantor retained annuity trust.
Summary
- A.B. Krongard, a director of Iridium Communications Inc., filed a Form 4 detailing changes in beneficial ownership of the company's common stock.
- The reported transactions include the acquisition of 439.7 dividend equivalent rights on restricted stock units due to a quarterly cash dividend of $0.14 per share.
- Additionally, 118,762 shares previously held by the 2022 Alvin B. Krongard Grantor Retained Annuity Trust (GRAT) were transferred to Krongard individually upon the GRAT's termination on October 11, 2024.
- Krongard also indirectly owns 160,983 shares through the Krongard Irrevocable Equity Trust dated June 30, 2009, for the benefit of his children, but disclaims beneficial ownership of these shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and dividend accruals, providing transparency to investors regarding the holdings and transactions of company directors.
Stakeholder Impact
- The disclosure provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| June 30, 2009 | Date of the Krongard Irrevocable Equity Trust |
| December 5, 2024 | Iridium announced a quarterly cash dividend of $0.14 per share. |
| December 16, 2024 | Record date for the quarterly cash dividend. |
| December 31, 2024 | Payment date for the quarterly cash dividend and date of dividend equivalent rights acquisition. |
| December 31, 2024 | Date of transaction for dividend equivalent rights. |
| January 03, 2025 | Date of Form 4 filing. |
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