Kapalka Timothy 4

What Happened

• Timothy Kapalka, Chief Accounting Officer (CAO) of Iridium Satellite LLC (Iridium Communications Inc.), had 744 shares withheld to satisfy tax withholding related to the vesting and settlement of restricted stock units (RSUs). The shares were valued at $24.01 each, totaling approximately $17,863.
• This was a withholding of shares to cover tax obligations upon RSU vesting — not an open-market sale or a purchase.

Key Details

• Transaction date: 2026-03-09; price used for withholding: $24.01 per share.
• Shares withheld/disposed: 744; total value withheld: ~$17,863.
• Shares owned after the transaction: not disclosed in the provided filing.
• Footnote: The issuer withheld the shares to satisfy the reporting person’s tax withholding obligations in connection with non-reportable vesting and settlement of RSUs (footnote F1).
• Filing date: 2026-03-11 for a 2026-03-09 transaction — appears to be filed within the typical two-business-day window.

Context

• Withholding shares for taxes is a routine administrative action when RSUs vest and does not represent a market sale decision by the insider; it generally should not be interpreted as a trading signal.
• This report reflects tax withholding on equity compensation rather than a purchase (bullish) or open-market sale (potentially bearish).