Form 4: Iridium Communications Director Thomas Canfield Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Thomas Canfield reports acquisition of dividend equivalent rights and disposal of shares held in a grantor retained annuity trust.
Summary
- On March 29, 2024, Director Thomas C. Canfield reported changes in beneficial ownership of Iridium Communications Inc. shares.
- Canfield acquired 991.2 shares representing dividend equivalent rights accrued on restricted stock units at a price of $0.
- Canfield disposed of 36,682 shares held indirectly through a Thomas C. Canfield 2017 GRAT.
- Following these transactions, Canfield directly owns 200,459.6 shares of Iridium Communications Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in beneficial ownership, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The acquisition of dividend equivalent rights is a common practice for restricted stock units, ensuring that holders receive the equivalent of dividends paid on common stock.
Key Dates
| Date | Description |
|---|---|
| 02/15/2024 | Iridium announced a quarterly cash dividend of $0.13 per share. |
| 03/15/2024 | Record date for the quarterly cash dividend. |
| 03/29/2024 | Date of the reported transactions (acquisition of dividend equivalent rights and disposal of shares). |
| 03/29/2024 | Payment date for the quarterly cash dividend. |
| 04/02/2024 | Date of the Form 4 filing. |
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