Form 4: Iridium Communications Director Harman Acquires Dividend Equivalent Rights
SEC Form 4 Filing
Director Jane L. Harman acquired dividend equivalent rights on restricted stock units of Iridium Communications Inc. due to a declared quarterly cash dividend.
Summary
- On March 29, 2024, Jane L. Harman, a director of Iridium Communications Inc., acquired 300.7 dividend equivalent rights related to restricted stock units (RSUs).
- These rights stem from a quarterly cash dividend of $0.13 per share declared by Iridium's board on February 15, 2024.
- The dividend was payable on March 29, 2024, to stockholders of record as of March 15, 2024.
- Each dividend equivalent right entitles Harman to one share of Iridium's common stock upon the settlement of the original RSUs and is subject to the same terms and conditions.
- Following the transaction, Harman beneficially owns 60,817.6 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to dividend equivalent rights, indicating a neutral sentiment.
Industry Context
This filing reflects standard practice for directors receiving dividend equivalent rights on unvested equity awards, ensuring alignment with shareholder returns.
Stakeholder Impact
- The dividend payment benefits shareholders of record as of March 15, 2024.
Key Dates
| Date | Description |
|---|---|
| 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 | Payment date for the quarterly cash dividend and date of acquisition of dividend equivalent rights. |
| April 02, 2024 | Date of signature for the Form 4 filing. |
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