IRDM.NASDAQIridium Communications INC

Form 4: Iridium Communications Director A.B. Krongard Reports Changes in Beneficial Ownership

Sentiment:

SEC Form 4 Filing

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Director A.B. Krongard reports changes in beneficial ownership of Iridium Communications stock due to dividend equivalent rights and holdings in trusts.

Summary

  • On June 28, 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 474.6 shares due to dividend equivalent rights accrued on restricted stock units, with each right entitling the holder to one share upon settlement of the original RSUs.
  • Krongard directly owns 219,590 shares.
  • 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.
  • Krongard disclaims beneficial ownership of the shares held in the Krongard Irrevocable Equity Trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

  • The filing provides transparency to shareholders regarding the ownership stake of a key director.

Key Dates

DateDescription
June 14, 2024Record date for the quarterly cash dividend.
June 28, 2024Date of transaction (acquisition of shares due to dividend equivalent rights).
June 28, 2024Date of earliest transaction.
July 02, 2024Date of signature on the Form 4 filing.

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