Canfield Thomas C 4
4 · Iridium Communications Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) Director Thomas C. Canfield Receives 639-Share Award
What Happened Thomas C. Canfield, a director of Iridium Communications Inc., was credited with 639 shares on June 30, 2026 as an award (code A) at $0.00 per share. The filing shows this acquisition reflects dividend‑equivalent rights tied to restricted stock units (RSUs) rather than an open‑market purchase or sale. The board approved the grant under Rule 16b‑3.
Key Details
- Transaction date and terms: 2026-06-30 — 639 shares @ $0.00 (award of dividend‑equivalent rights).
- Dividend context: the board declared a $0.15 per‑share cash dividend on May 20, 2026 (payable June 30 to holders of record June 15); these are dividend equivalents on existing RSUs.
- Ownership vehicle: the shares are held in a grantor retained annuity trust (GRAT); Canfield is trustee and sole annuitant.
- Shares owned after transaction: not reported on the Form 4.
- Filing timeliness: Form filed 2026-07-02 — appears timely (reported shortly after the 6/30 transaction).
Context These were dividend‑equivalent rights that will convert to shares upon settlement of the underlying RSUs and are subject to the same vesting and settlement terms as the Original RSUs. This is a routine award tied to dividend accruals and the board’s approval process, not an outright purchase or sale that signals a change in trading stance.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30+639→ 234,294.1 total
- 36,682(indirect: By Thomas C. Canfield 2017 GRAT)
Common Stock
[F2]
Footnotes (2)
- [F1]On May 20, 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 June 30, 2026 to stockholders of record of the common stock at the close of business on June 15, 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.
- [F2]These shares are owned by a grantor retained annuity trust ("GRAT"). The reporting person is the trustee and sole annuitant of the GRAT.