Company: IRDM
Filing Date: 2025-03-17
Form Type: PRE 14A
Source: 0001628280-25-013200
Chunk: 109

Company: Iridium Communications Inc.
Filing Date: 2025-03-17
Form: PRE 14A
Chunk 109
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 service through such date or qualified retirement under our “sum of 70” program. These RSUs represent the amount subject to continued service and vested in full on March 1, 2025.

(8) These shares represent performance-based RSUs granted in March 2023, with a performance period through December 31, 2024. This amount represents 82.7% of the original grant, which the Compensation Committee determined in February 2025 to be the level of performance achievement, based on actual performance. One-half of the shares reported in the table vested upon such determination, and the vested shares were issued to the named executive officer on March 1, 2025, net of shares withheld to satisfy tax withholding obligations. The remainder will vest on March 1, 2026, subject to the executive’s continued service through such date or qualified retirement under our “sum of 70” program.

(9) These shares represent performance-based RSUs granted in March 2024 as performance-based grants, with a performance period through December 31, 2025. The number of shares not yet earned is based on the target amount. Upon the Compensation Committee’s determination of the level of performance achievement, which is expected to occur in the first quarter of 2026, one-half of the earned awards, if any, will vest upon such determination and the remainder will vest in March 2027, subject to the executive’s continued service or qualified retirement under our “sum of 70” program.

(10) These shares represent RSUs granted in March 2024 under the 2024 annual incentive bonus plan. The amount reported in the table is equal to 100% of the original grant amount. In February 2025, the Compensation Committee determined that the performance criteria for vesting had been achieved, as a result of which these RSUs vested in full on March 2, 2025, and the shares underlying the RSUs were issued to the named executive officer on that date, net of shares withheld to satisfy tax withholding obligations.

(11) Messrs. Fitzpatrick and Hartin retired on December 31, 2024, resulting in the accelerated vesting of certain RSUs pursuant to the terms of the RSU award agreements, although settlement of certain of the RSUs are subject to a delay of six months in compliance with Section 409A of the Internal Revenue Code. Any awards that would have been included in the columns under “Stock Awards” but which became vested as of December