Iridium Communications Announces Merger Approval with Rocket Lab

What Happened

• Iridium Communications Inc. announced that its stockholders approved the Agreement and Plan of Merger with Rocket Lab Corporation at a special meeting on September 24, 2026. The merger agreement (dated June 28, 2026) provides for a two-step merger in which Iridium will become an indirect wholly owned subsidiary of Rocket Lab if closing conditions are met.
• As of the August 21, 2026 record date there were 105,981,552 shares outstanding. 86,248,382 shares (about 81.38%) were present or represented at the meeting, constituting a quorum.

Key Details

• Proposal 1 (Adopt Merger Agreement): For 85,862,105; Against 318,415; Abstained 67,862. Proposal 1 was approved.
• Proposal 2 (Advisory approval of “golden parachute” payments): For 74,461,703; Against 10,948,729; Abstained 837,950. Proposal 2 (non-binding) was approved.
• The parties expect the Mergers to close in mid-2027, subject to remaining closing conditions including required regulatory approvals.
• Iridium and Rocket Lab issued a joint press release on September 24, 2026 (filed as Exhibit 99.1).

Why It Matters

• Stockholder approval clears a key legal hurdle for the transaction; the company now moves to satisfy remaining conditions and obtain regulatory approvals before the expected mid-2027 close.
• If completed, Iridium will become an indirect wholly owned subsidiary of Rocket Lab—an important corporate control change that investors should monitor for effects on strategy, operations, and future reporting.
• The advisory approval of executive change-in-control payments indicates investor sentiment on management compensation tied to the deal, but that vote is non-binding and does not itself alter payments.