SEC Form 4 · accession 0001209191-16-105789
Iridium Communications Inc. · IRDM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
S. Scott Smith
Officer — Chief Operating Officer · Director
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 7:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001418819
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 1, 2016 | F | 3,709 | $7.01 | D | 71,910 | D | |
| Common StockF2 | Mar 1, 2016 | A | 40,260 | $0.00 | A | 112,170 | D | |
| Common Stock | Mar 1, 2016 | F | 6,533 | $7.01 | D | 105,637 | D | |
| Common StockF4 | Mar 1, 2016 | A | 15,691 | $0.00 | A | 121,328 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the non-reportable vesting and settlement of restricted stock units.
- F2These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer. Of the shares underlying this restricted stock award, one-half vested on March 1, 2016 and the remainder will vest on March 1, 2017, subject to the reporting person's continuous service with the issuer as of the vesting date.
- F3The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations in connection with the vesting and settlement of the restricted stock unit award reported in footnote (2) herein.
- F4These shares are represented by restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer. Of the shares underlying this restricted stock unit award, 25% shall vest on March 1, 2017 and the remainder shall vest in equal quarterly installments thereafter on each June 1, September 1, December 1 and March 1, so that all shares of common stock shall be vested as of March 1, 2020, subject to the reporting person's continuous service with the issuer as of each such vesting date.