Company: IRDM
Filing Date: 2025-03-17
Form Type: PRE 14A
Source: 0001628280-25-013200
Chunk: 4

Company: Iridium Communications Inc.
Filing Date: 2025-03-17
Form: PRE 14A
Chunk 4
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 of the target level in the event that stretch performance goals were achieved and capped the maximum bonus award, which also takes into account personal performance goals, at 200% of the overall target level. These levels were consistent with our philosophy that a significant portion of each executive’s total target compensation should be performance-based and reflected the Compensation Committee’s review of internal pay equity. |
| Long-Term Equity-      
 Based Incentive        
 Compensation           |     | The Compensation Committee believes that properly structured equity compensation works to align the long-term interests of stockholders and employees by creating a strong, direct link between employee compensation and stock price appreciation. In 2024, we awarded performance-based RSUs that will provide a return to the executive only if we achieve specific performance goals for a two-year performance period and the executive remains employed by us through the applicable vesting date. One-half of any earned shares vest upon certification of achievement and the remainder continue to be subject to service-based vesting through the third anniversary of the award’s grant date. In 2024, we also awarded RSUs that vest based on continued service over a three-year period, which provide a return only if the executive remains employed with us. The vesting of these performance-based and service-based awards may be accelerated in connection with a qualified retirement under our “sum of 70” corporate program described in this Proxy Statement.                                                                                                                                                                                                                                                                                                 |

Important Features of our Executive Compensation Program The important features of our executive compensation program include: • Annual Incentives Tied to Performance. A significant portion of executive compensation is at-risk, performance-based compensation in the form of an annual incentive bonus opportunity that is based on achievement of a combination of financial, strategic and operational goals selected annually by our Compensation Committee. • Significant Percentages of Compensation At-Risk. In 2024, at-risk compensation represented approximately 89% of our chief executive officer’s total direct target compensation, and an average of 83% of our other named executive officers’ total direct target compensation. • Long-Term Equity Incentive Awards. In 2024, 71% of our named executive officers’ total direct target compensation and 78% of our chief executive officer’s total direct target compensation was in the form of long-term equity incentives, comprised 50% of service-based RSUs vesting over three years and 50% of performance-based RSUs.

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• Long-Term Performance-Based Equity Awards. Long-term, performance-based equity incentive awards are subject to the