SEC Form 4 · accession 0001209191-19-016384
Iridium Communications Inc. · IRDM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew J Desch
Officer — Chief Executive Officer · Director
Period of report
Mar 1, 2019
Accepted (ET)
Mar 5, 2019 · 4:04 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, 2019 | F | 8,913 | $23.15 | D | 914,543 | D | |
| Common Stock | Mar 1, 2019 | F | 10,515 | $23.15 | D | 904,028 | D | |
| Common StockF3 | Mar 1, 2019 | A | 72,476 | $0.00 | A | 976,504 | D | |
| Common Stock | Mar 1, 2019 | F | 16,343 | $23.15 | D | 960,161 | D | |
| Common StockF5 | Mar 1, 2019 | A | 36,717 | $0.00 | A | 996,878 | D | |
| Common StockF6 | Mar 4, 2019 | A | 27,354 | $0.00 | A | 1,024,232 | D | |
| Common Stock | Mar 4, 2019 | F | 12,336 | $22.90 | D | 1,011,896 | 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.
- F2The 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 a restricted stock unit award that previously vested with respect to one-half of the shares underlying the award on March 1, 2018. The amount being reported herein represents amounts withheld to satisfy tax withholding obligations in connection with the vesting and settlement of the remaining one-half on March 1, 2019.
- F3These 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, 2019 and the remainder will vest on March 1, 2020, subject to the reporting person's continuous service with the issuer as of such vesting date.
- F4The 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 (3) herein.
- F5These 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, 2020 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, 2023, subject to the reporting person's continuous service with the issuer as of each such vesting date.
- F6Represents 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, 2019.
- F7The 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 (6) herein.