SEC Form 4 · accession 0001209191-18-016833
Iridium Communications Inc. · IRDM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Scheimreif
Officer — EVP-Government Programs
Period of report
Mar 1, 2018
Accepted (ET)
Mar 5, 2018 · 6:18 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, 2018 | F | 4,339 | $11.85 | D | 95,590 | D | |
| Common StockF2 | Mar 1, 2018 | A | 14,032 | $0.00 | A | 109,622 | D | |
| Common Stock | Mar 1, 2018 | F | 2,290 | $11.85 | D | 107,332 | D | |
| Common StockF4 | Mar 1, 2018 | A | 16,455 | $0.00 | A | 123,787 | D | |
| Common StockF5 | Mar 4, 2018 | A | 17,972 | $0.00 | A | 141,759 | D | |
| Common Stock | Mar 4, 2018 | F | 5,984 | $11.50 | D | 135,775 | 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, 2018 and the remainder will vest on March 1, 2019, 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, 2019 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, 2022, subject to the reporting person's continuous service with the issuer as of each such vesting date.
- F5Represents the vested portion of a performance-based restricted stock unit award based on the issuer's satisfaction of certain performance criteria. In light of the performance-based vesting conditions of the award, such award was not reportable under Section 16 until vesting was determined, which occurred on March 4, 2018.
- F6The 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 (5) herein.