Morgan Kathleen A. 4

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.