FRAZIER LEON ANTHONY 4

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.