Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 63

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 63
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’s basis for the determination of gain or loss upon the subsequent disposition of shares acquired from a restricted stock unit award will be equal to the ordinary income recognized when the stock is delivered.

Subject to the requirement of reasonableness, the provisions of Section 162(m) of the Code and the satisfaction of a tax reporting obligation, we will generally be entitled to a tax deduction equal to the taxable ordinary income realized by the recipient of the restricted stock unit award.

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#### Stock Appreciation Rights
Generally, if a stock appreciation right is granted with an exercise price equal to the fair market value of the underlying stock on the grant date, the recipient will recognize ordinary income equal to the fair market value of the stock or cash received upon such exercise. Subject to the requirement of reasonableness, the provisions of Section 162(m) of the Code, and the satisfaction of a tax reporting obligation, we will generally be entitled to a tax deduction equal to the taxable ordinary income realized by the recipient of the stock appreciation right.

#### Section 162(m) Limitations
Under Section 162(m) of the Code, compensation paid to any publicly held corporation’s “covered employees” that exceeds $1 million per taxable year for any covered employee is generally non-deductible. Awards granted under the Amended 2015 Plan will be subject to the deduction limit under Section 162(m) of the Code and will not be eligible to qualify for the performance-based compensation exception under Section 162(m) of the Code pursuant to the transition relief provided by the Tax Cuts and Jobs Act.

#### Awards Granted Under the 2015 Plan
The following table sets forth, for each of the individuals and groups indicated, the total number of shares of our common stock subject to awards that have been granted as of the record date under the 2015 Plan since its inception in 2015.

| Name and Position                                                                        |     | Number of Shares |           |
| Named executive officers:                                                                |     |                  |           |
| Chief Executive Officer                                                                  |     |                  | 1,632,982 |
| Thomas J. Fitzpatrick                                                                    
 Former Chief Financial Officer                                                           |     |                  |   600,964 |
| Chief Operations Officer                                                                 |     |                  |   562,548 |
| Bryan J. Hartin                                                                          
 Former Executive Vice President, Sales and Marketing                                     |     |                  |   373,721 |
| Executive Vice President, Government Programs                                            |     |                  |   423