Form 4: Iridium Communications Inc. Director Reports Changes in Beneficial Ownership

Director Robert H. Niehaus reports changes in beneficial ownership of Iridium Communications Inc. stock due to dividend equivalent rights accrued on restricted stock units.

Summary

• On June 28, 2024, Robert H. Niehaus, a director of Iridium Communications Inc., reported changes in beneficial ownership.
• These changes are due to dividend equivalent rights accrued on restricted stock units (RSUs) held by Niehaus.
• The issuer declared a quarterly cash dividend of $0.14 per share, payable on June 28, 2024, to stockholders of record on June 14, 2024.
• Niehaus acquired 632.3 equivalent rights, each entitling him to one share of Iridium's common stock upon settlement of the original RSUs.
• Following the transaction, Niehaus beneficially owns 254,268.6 shares.
• The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to dividend payouts and insider holdings, indicating stable corporate governance. The sentiment is neutral to slightly positive.

Industry Context

This filing is a routine disclosure related to insider transactions and dividend payouts, common in publicly traded companies. It reflects standard corporate governance practices.

Stakeholder Impact

• Shareholders receive a quarterly cash dividend of $0.14 per share.
• The director's holdings are adjusted to reflect dividend equivalent rights.

Key Dates