Kapalka Timothy 4

What Happened

• Timothy Kapalka, Chief Administrative Officer (CAO) of Iridium Satellite LLC, received an award of 4,175 restricted stock units (RSUs) on June 1, 2026 (acquisition reported at $0.00).
• Simultaneously, 692 shares were withheld by the issuer at $51.78 per share to satisfy the reporting person's tax withholding obligation, a disposition valued at $35,832 (reported as code F — tax withholding).

Key Details

• Transaction dates and prices:
  • 2026-06-01: Grant/award of 4,175 RSUs (reporting code A) — acquisition value reported as $0.00.
  • 2026-06-01: 692 shares withheld for taxes (reporting code F) at $51.78/share — $35,832 total.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: The 692-share disposition represents shares withheld by the issuer to satisfy the reporting person's tax withholding obligations related to the RSU vesting/settlement.
  • F2: Each RSU represents a contingent right to one share. 34% of these RSUs vest on June 1, 2027; the remainder vests in equal quarterly installments on Sept 1, Dec 1, Mar 1 and June 1, with all shares vesting by June 1, 2029, subject to continuous service.
• Filing timeliness: Reported on 2026-06-02 for transactions dated 2026-06-01 (appears timely).

Context

• RSUs are equity awards that convert into shares upon vesting; these were granted (not purchased) and carry no immediate cash cost to the recipient. The withholding of shares to cover taxes is a routine administrative action and does not necessarily indicate a sentiment-based sale.