Iridium (IRDM) Director Thomas Fitzpatrick Sells $11.25M in Shares

What Happened

• Thomas Fitzpatrick, a director of Iridium Communications (IRDM), sold a total of 224,279 shares in open-market transactions. On 2026-08-17 he disposed of 209,233 shares at a weighted average price of $50.22 for $10,507,681; on 2026-08-18 he disposed of 15,046 shares at a weighted average price of $49.20 for $740,263. These were sales (not purchases or option exercises).

Key Details

• Transaction dates and amounts:
  • 2026-08-17: 209,233 shares sold, weighted avg price $50.22, proceeds $10,507,681. (Footnote: individual prices ranged $49.96–$50.65.)
  • 2026-08-18: 15,046 shares sold, weighted avg price $49.20, proceeds $740,263. (Footnote: individual prices ranged $49.16–$49.30.)
• Aggregate: 224,279 shares sold for approximately $11,247,944 (~$11.25M).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: prices are weighted averages from multiple trades; the filer offers to provide per-trade price breakdowns on request.
• Timeliness: Filing date 2026-08-19 for transactions on 2026-08-17 and 2026-08-18 — within the typical 2-business-day Form 4 reporting window (not indicated as late).
• Transaction code: "S" — open-market sale.

Context

• Sales by directors are often routine (liquidity, diversification or pre-established plans) and do not by themselves indicate company prospects; no 10b5-1 plan or other reason was disclosed in the provided details.
• This was a straight sale of shares (not an exercise, gift, or award), and the filing’s footnotes indicate multiple trades at prices within small ranges on each date.