Form 4: Iridium Communications Director A.B. Krongard Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director A.B. Krongard reports changes in beneficial ownership of Iridium Communications stock due to dividend equivalent rights and holdings in trusts.
Summary
- On September 30, 2024, A.B. Krongard, a director of Iridium Communications Inc., reported changes in beneficial ownership of the company's stock.
- These changes include the acquisition of 417.1 shares due to dividend equivalent rights accrued on restricted stock units.
- Krongard directly owns 220,007.1 shares of common stock.
- He also indirectly owns 118,762 shares through the 2022 Alvin B. Krongard GRAT and 160,983 shares through the Krongard Irrevocable Equity Trust dated June 30, 2009.
- The dividend equivalent rights stem from a quarterly cash dividend of $0.14 per share declared by Iridium on August 21, 2024, payable to stockholders of record on September 13, 2024.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing changes in stock ownership due to dividends and trust holdings. It doesn't contain any particularly positive or negative news, but the dividend payment is a slightly positive signal.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, driven by dividend accruals. It's a common occurrence for publicly traded companies.
Stakeholder Impact
- The dividend payment benefits shareholders.
Key Dates
| Date | Description |
|---|---|
| June 30, 2009 | Date of the Krongard Irrevocable Equity Trust |
| August 21, 2024 | Iridium announced a quarterly cash dividend of $0.14 per share. |
| September 13, 2024 | Record date for the quarterly cash dividend. |
| September 30, 2024 | Date of dividend payment and transaction date for changes in beneficial ownership. |
| October 02, 2024 | Date of report filing. |
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