Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 86

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 86
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 2024 bonus plan. Based on the Compensation Committee’s review of competitive market data and internal pay equity, and consistent with our philosophy that a significant portion of each executive’s total target compensation should be performance-based, the target bonus opportunities (expressed as a percentage of annual base salary) for 2024 for the chief executive officer and the other named executive officers were set at the same levels as 2023.

| Name                  |     | 2024 Target              
 Bonus Opportunity ($)(1) |           |     | 2024 Target Bonus Opportunity 
 (% of salary)                 |
| Matthew J. Desch      |     |                          | 1,020,694 |     | 100%                          |
| Thomas J. Fitzpatrick |     |                          |   489,933 |     | 80%                           |
| Suzanne E. McBride    |     |                          |   383,908 |     | 80%                           |
| Bryan J. Hartin       |     |                          |   263,463 |     | 65%                           |
| Scott T. Scheimreif   |     |                          |   259,368 |     | 65%                           |

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(1) Derived from actual salary paid as reflected in our 2024 Summary Compensation Table multiplied by the target bonus opportunity.

2024 Bonus Plan Structure and Goals . As adopted, the 2024 bonus plan contained both goals to judge performance and methodology for calculating actual bonuses paid, as follows:

• The dollar value of the actual bonus award for each executive under the 2024 bonus plan was to be calculated by multiplying the executive’s target bonus opportunity (as adjusted based on actual salary earned) by a corporate performance factor determined by the Compensation Committee, which could range from 0% to 190% based on the level of achievement of the corporate performance goals discussed below.

• The corporate performance factor would equal the sum of the level of achievement of one financial, several strategic and several operational performance goals.

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• The resulting amount could then be reduced or increased by the Compensation Committee based on an individual performance factor ranging from 0% to 150% (the final amount, representing the product of (x) the executive’s target bonus opportunity, (y) the corporate performance factor, and (z) the individual performance factor, being the “Actual Bonus Award”), subject to a maximum Actual Bonus Award equal to 200% of the target level.

• Sixty percent