Morgan Kathleen A. 4
4 · Iridium Communications Inc. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) CLO Kathleen Morgan Receives RSU Awards
What Happened
Kathleen Morgan, Chief Legal Officer of Iridium Communications (IRDM), was granted a total of 96,388 restricted stock units (RSUs) in two award events (4,859; 20,548; and 70,981 shares reported across Feb 26 and Mar 1, 2026). On March 1, 2026, 11,311 shares were withheld by the company to satisfy tax withholding obligations; those withheld shares were reported as a disposition at $22.49 per share, totaling $254,384. The grants are reported as awards (code A) and the withholding as tax-related disposition (code F).
Key Details
- Transaction dates and prices:
- 2026-02-26: 4,859 RSUs (award, $0.00 reported)
- 2026-02-26: 20,548 RSUs (award, $0.00 reported)
- 2026-03-01: 70,981 RSUs (award, $0.00 reported)
- 2026-03-01: 11,311 shares withheld for taxes at $22.49/share (disposed) = $254,384
- Shares received (total RSUs granted): 96,388
- Shares owned after transaction: Not specified in the Form 4 filing
- Footnotes of note:
- F1: RSUs from the 2025 bonus plan certified as earned; vesting on March 9, 2026, subject to continued service.
- F2: PSUs from March 1, 2024 — one-half settled on March 1, 2026; remaining half vests/settles March 1, 2027.
- F3: Some RSUs vest 20% on March 1, 2027, then quarterly through March 1, 2031, subject to continued service.
- F4: The 11,311-share disposition reflects issuer withholding to satisfy tax obligations (not an open-market sale).
- Filing timeliness: Reported on 2026-03-02 for transactions on 2026-02-26 and 2026-03-01; filing appears timely.
Context
These transactions are awards of RSUs/PSUs rather than open-market purchases or voluntary sales. The withholding of shares to cover taxes is a routine administrative action (cashless tax withholding) and does not necessarily indicate a change in insider sentiment. RSUs and PSUs are deferred equity awards that convert to shares if vesting conditions (usually continued service and/or performance goals) are met.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-26+4,859→ 82,088 total - Award
Common Stock
[F2]2026-02-26+20,548→ 102,636 total - Award
Common Stock
[F3]2026-03-01+70,981→ 173,617 total - Tax Payment
Common Stock
[F4]2026-03-01$22.49/sh−11,311$254,384→ 162,306 total
Footnotes (4)
- [F1]Reflects the number of restricted stock units ("RSUs") certified as earned with respect to an award under the issuer's 2025 bonus plan granted on March 1, 2025. Each RSU represents a contingent right to receive one share of common stock of the issuer. The shares will vest on March 9, 2026, subject to the reporting person's continuous service with the issuer as of the vesting date.
- [F2]Reflects the number of shares certified as earned with respect to an award of performance-based RSUs ("PSUs") granted on March 1, 2024. One half of the PSUs settled on March 1, 2026 and the remaining PSUs will vest and be settled on March 1, 2027.
- [F3]These shares are represented by RSUs. Each RSU represents a contingent right to receive one share of common stock of the issuer. Of the shares underlying this RSU award, 20% shall vest on March 1, 2027 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, 2031, subject to the reporting person's continuous service with the issuer as of each such vesting date.
- [F4]The transaction reported represents the withholding of shares by the issuer to satisfy the reporting person's tax withholding obligations.