FITZPATRICK THOMAS 4
4 · Iridium Communications Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) Director Thomas Fitzpatrick Receives 48.5-Share Award
What Happened
Thomas Fitzpatrick, a director of Iridium Communications, was credited with 48.5 shares on June 30, 2026 as an award/acquisition (code A) at a reported price of $0.00 (total reported value $0). The award represents dividend-equivalent rights that accrued on restricted stock units (Original RSUs) following the board-declared $0.15 per-share quarterly cash dividend.
Key Details
- Transaction date: June 30, 2026; Filing date (Form 4): July 2, 2026 (timely filing).
- Transaction type/code: Grant/award (A). Shares acquired: 48.5; reported price per share: $0.00; reported cash value: $0.
- Shares owned after transaction: Not specified in the filing.
- Footnote: The 48.5 shares are dividend-equivalent rights tied to Original RSUs — each right entitles the holder to one share upon settlement and is subject to the same vesting and settlement terms as the Original RSUs. The grant was approved under Rule 16b-3.
- No 10b5-1 or tax-withholding mechanics were indicated in the filing.
Context
This was not a market purchase or sale but a routine accrual of dividend-equivalent rights on existing RSUs; such credits are common after dividend declarations and do not by themselves indicate insider buying or selling sentiment. These rights will convert to shares only upon settlement of the underlying RSUs and remain subject to their vesting/settlement conditions.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30+48.5→ 267,538.6 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.