DESCH MATTHEW J 4

What Happened
Matthew J. Desch, CEO of Iridium Communications (IRDM), was credited with a total of 407,564 restricted stock units (RSUs)/performance RSUs across reports on Feb 26 and Mar 1, 2026 (acquired at $0.00). Separately, 53,301 shares were reported as disposed on Mar 1, 2026 through withholding to satisfy tax obligations at $22.49 per share, resulting in proceeds of $1,198,739 (withheld by the issuer).

Key Details

• Transaction dates and amounts:
  • 2026-02-26: 19,396 RSUs (grant/certification) @ $0.00
  • 2026-02-26: 95,893 RSUs (grant/certification) @ $0.00
  • 2026-03-01: 292,275 RSUs (grant/certification) @ $0.00
  • 2026-03-01: 53,301 shares withheld/disposed for tax @ $22.49 = $1,198,739
• Shares owned after transaction: not specified in this Form 4 filing.
• Footnotes / vesting highlights:
  • F1: Certain RSUs certified as earned under the 2025 bonus plan (vest on Mar 9, 2026 subject to continued service).
  • F2: PSUs from Mar 1, 2024 — half settled on Mar 1, 2026; remaining half will vest/settle on Mar 1, 2027.
  • F3: Long-term RSU award with 20% vesting on Mar 1, 2027 and remaining vesting quarterly through Mar 1, 2031.
  • F4: The 53,301-share disposal represents issuer withholding to satisfy the reporting person's tax withholding obligations (routine).
• Filing timeliness: Form 4 filed Mar 2, 2026; no late filing indicated in the report.

Context

• These transactions are primarily awards/certifications of RSUs and PSUs (not open-market purchases or option exercises). RSUs/PSUs represent a contingent right to receive shares if vesting conditions are met.
• The 53,301-share disposal is a tax-withholding action by the company—not an open-market sale initiated by the insider to raise cash—and is commonly used to cover tax obligations when awards vest/settle.
• For retail investors: awards increase potential future share dilution when they vest and convert to common shares; tax-withholding disposals are routine and do not necessarily indicate a view on the company’s stock.