Form 4: Iridium Communications Director Kay Sears Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Kay Sears reports acquisition of dividend equivalent rights and disposal of common stock.
Summary
- Kay Sears, a director of Iridium Communications Inc., filed a Form 4 detailing changes in beneficial ownership.
- On September 30, 2024, Sears acquired dividend equivalent rights related to restricted stock units, amounting to 23.4 shares, due to a quarterly cash dividend of $0.14 per share.
- Also on September 30, 2024, Sears disposed of 12,365.2 shares of common stock.
- Following these transactions, Sears beneficially owns an unspecified amount of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and dividend accruals, common for publicly traded companies like Iridium Communications.
Key Dates
| Date | Description |
|---|---|
| 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 | Payment date for the quarterly cash dividend; Sears acquired dividend equivalent rights and disposed of common stock. |
| October 02, 2024 | Date of Form 4 filing. |
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