Alterman Louis M 4
4 · Iridium Communications Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) Director Louis M. Alterman Receives Award
What Happened
Louis M. Alterman, a director of Iridium Communications Inc., was credited with 74.1 shares on March 31, 2026 as dividend-equivalent rights tied to his restricted stock units (RSUs). The Form 4 reports an acquisition of 74.1 shares at $0.00 per share (reported total value $0). This is an award/dividend-equivalent accrual (compensation-related), not an open-market purchase or sale.
Key Details
- Transaction date and price: 2026-03-31 — 74.1 shares acquired at $0.00 per share (reported value $0).
- Shares owned after transaction: Not specified in the filing.
- Footnote: On Mar 5, 2026 the board declared a $0.15 per-share cash dividend payable Mar 31 to holders of record Mar 16. Dividend-equivalent rights were credited on the Original RSUs; each right converts to one share upon settlement and is subject to the same vesting and settlement terms as the Original RSUs. The grant was approved under Rule 16b-3.
- Filing timeliness: Form 4 filed on Apr 2, 2026 — appears to be timely within the standard Form 4 reporting window.
Context
Dividend-equivalent rights are a form of compensation that accrues to holders of restricted stock units and will convert to shares upon the RSUs' settlement/vesting schedule. Such credits are routine corporate actions tied to dividends and do not necessarily indicate the insider is buying or selling based on private information.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-31+74.1→ 13,772.1 total
Footnotes (1)
- [F1]On March 5, 2026, the Issuer's board of directors declared a quarterly cash dividend in the amount of $0.15 per share of its common stock, payable on March 31, 2026 to stockholders of record of the common stock at the close of business on March 16, 2026 (the "Dividend"). The amount acquired in column 4 represents equivalent rights accrued as a result of the Dividend on restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person. Each dividend equivalent right entitles the reporting person to receive one share of the Issuer's common stock upon the settlement of the Original RSUs and is subject to the same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates. The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended.