Form 4: Iridium Communications Director A.B. Krongard Reports Changes in Beneficial Ownership
SEC Form 4
Director A.B. Krongard reports changes in beneficial ownership of Iridium Communications stock due to dividend equivalent rights and holdings in trusts.
Summary
- On March 29, 2024, A.B. Krongard, a director of Iridium Communications Inc., reported changes in beneficial ownership of the company's stock.
- The changes include the acquisition of 446.3 shares due to dividend equivalent rights accrued on restricted stock units.
- Krongard directly owns 219,115.4 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.
- Krongard disclaims beneficial ownership of the shares held in the Krongard Irrevocable Equity Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in stock ownership, which carries a neutral sentiment.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence for publicly traded companies.
Stakeholder Impact
- The dividend payment benefits shareholders.
Key Dates
| Date | Description |
|---|---|
| June 30, 2009 | Date of Krongard Irrevocable Equity Trust |
| February 15, 2024 | Iridium announced a quarterly cash dividend of $0.13 per share. |
| March 15, 2024 | Record date for the quarterly cash dividend. |
| March 29, 2024 | Date of transaction and payment date for the quarterly cash dividend. |
| April 02, 2024 | Date of Form 4 filing. |
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