FRAZIER LEON ANTHONY 4

What Happened

• Leon Anthony Frazier, a director of Iridium Communications, received 182.4 shares (recorded as an award/acquisition) on March 31, 2026. The filing shows a $0 acquisition price because these are dividend-equivalent rights granted in connection with existing restricted stock units (RSUs), not a cash purchase.

Key Details

• Transaction date: 2026-03-31 (Form 4 filed 2026-04-02).
• Transaction type/code: Award/Acquisition (A).
• Shares acquired: 182.4; reported purchase price/value: $0 (these are dividend equivalents, not an open-market buy).
• Shares owned after transaction: Not specified in the information provided in this summary/filing excerpt.
• Footnote: The board declared a $0.15 per-share cash dividend on March 5, 2026, payable March 31. Dividend-equivalent rights were granted on the Original RSUs; each right will convert into one share when the related RSUs settle and are subject to the same vesting/settlement terms. Grant approved under Rule 16b-3.
• Timeliness: Filing appears timely (reported within the standard Form 4 filing window).

Context

• These are dividend-equivalent rights tied to previously granted RSUs, meaning they give the holder the right to receive shares upon RSU settlement and remain subject to the RSUs’ vesting and settlement conditions. This is an administrative/compensation-related credit, not an open-market purchase or sale, and does not by itself indicate a change in the insider’s trading stance.