Krongard A B 4

What Happened

• A.B. Krongard, a director of Iridium Communications (IRDM), was granted 639.6 shares on March 31, 2026 as dividend-equivalent rights related to restricted stock units (RSUs). The shares were recorded at $0.00 acquisition price (no cash paid).
• These dividend equivalents were issued because the board declared a $0.15-per-share cash dividend; each dividend-equivalent right entitles the holder to one share upon settlement of the related RSUs and is subject to the same vesting and settlement terms as the original RSUs. The grant was approved under Rule 16b-3.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-02 (timely)
• Transaction type/code: Award/Grant (A) — dividend-equivalent rights
• Shares acquired: 639.6; Price: $0.00; Reported value: $0
• Notable footnotes: Dividend declared March 5, 2026 ($0.15/share). Dividend equivalents will convert to shares upon RSU settlement and follow the same vesting rules. Some shares are reported as held in a trust for the reporting person’s children; the reporting person disclaims beneficial ownership of those trust-held shares.
• No indication of immediate sale or cash proceeds.

Context

• Dividend-equivalent awards are not purchases or sales of stock; they simply increase the number of shares tied to existing RSUs and are typically subject to the RSUs’ vesting schedule. Such awards are routine corporate actions and do not necessarily signal insider buying or selling intent.