Alterman Louis M 4
4 · Iridium Communications Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) Director Louis Alterman Receives Award of 37.7 Shares
What Happened
Louis M. Alterman, a director of Iridium Communications, was granted 37.7 shares (recorded at $0.00) on June 30, 2026. These were not an open-market purchase or sale but dividend-equivalent rights credited in connection with restricted stock units (RSUs); the filing shows an acquisition type "A" (award/grant) and a reported dollar value of $0.00.
Key Details
- Transaction date: 2026-06-30; filing date: 2026-07-02 (timely Form 4 filing).
- Amount acquired: 37.7 shares at $0.00 per share (total reported value $0).
- The dividend declared by the board was $0.15 per share, payable June 30, 2026 to holders of record on June 15, 2026.
- These are dividend-equivalent rights that will convert to shares upon settlement of the underlying RSUs and are subject to the same vesting/settlement terms.
- Grant was approved by the board under Rule 16b-3.
- The filing does not state the reporting person's total shares owned after this accrual.
Context
This transaction records dividend equivalents credited to existing RSUs rather than an outright purchase or sale. Such credits are routine corporate actions tied to dividends on common stock and do not immediately increase tradable share ownership until the related RSUs vest and settle. They are informational and do not, by themselves, necessarily indicate a change in the insider’s market view.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30+37.7→ 13,809.8 total
Footnotes (1)
- [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.