FRAZIER LEON ANTHONY 4
4 · Iridium Communications Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Iridium (IRDM) Director Leon Frazier Receives 92.7-Share Award
What Happened
Leon Anthony Frazier, a director of Iridium Communications, received an award of 92.7 shares (transaction code A) on June 30, 2026. The shares were reported at $0.00 acquisition cost because they are dividend-equivalent rights credited in connection with a $0.15 per-share cash dividend declared May 20, 2026; the filing shows an acquisition value of $0.
Key Details
- Transaction date: 2026-06-30 (reported on Form 4 filed 2026-07-02)
- Transaction type/code: Award/Grant (A) — 92.7 shares @ $0.00 (acquired)
- Shares owned after transaction: not specified in this filing
- Footnote: Dividend equivalents were granted on restricted stock units (Original RSUs); each dividend-equivalent right converts to one share on settlement and is subject to the same vesting and settlement terms as the Original RSUs (see footnote F1). Grant approved under Rule 16b-3.
- Timeliness: Filing appears timely (transaction 6/30/2026; Form 4 filed 7/2/2026).
Context
These were dividend-equivalent rights credited on existing RSUs rather than a cash purchase or open-market trade. Dividend equivalents do not require an outlay of cash and are subject to the underlying RSU vesting—such awards are routine compensation adjustments tied to shareholder dividends and do not by themselves indicate the insider’s view on the stock.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30+92.7→ 46,504 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.