Canfield Thomas C 4

What Happened

• Thomas C. Canfield, a director of Iridium Communications, reported a disposition to the issuer on 2026-05-20: 135.7 shares were forfeited (transaction price $0.00; total $0). The filing identifies these as restricted stock units (RSUs) that represented a contingent right to one share each and were cancelled due to his cessation of service on the Nominating and Corporate Governance Committee.

Key Details

• Transaction date: 2026-05-20; Form 4 filed: 2026-05-26.
• Disposition: 135.7 shares to issuer at $0.00 (forfeiture), total proceeds $0.
• Footnote F1: RSUs were granted Jan 6, 2026 as director compensation in lieu of cash committee fees and were forfeited when committee service ended.
• Footnote F2: Some shares are owned by a grantor retained annuity trust (GRAT); Canfield is trustee and sole annuitant of the GRAT.
• Shares owned after transaction: not specified in the information provided.
• Filing timeliness: Form 4 was filed six days after the transaction (typically Form 4 is due within two business days), which appears later than the usual window.

Context

• This was not a cash sale or market transaction but a forfeiture/cancellation of unvested RSUs tied to committee service—it does not represent proceeds or an active market sell. For retail investors, forfeitures due to end of service are administrative and generally not a clear signal of insider market sentiment.