Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 43

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 43
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 As of the record date |
| Total number of shares of common stock subject to outstanding stock options(1)                                                            |     |               240,800 |
| Total number of shares of common stock subject to outstanding full value awards(2)                                                        |     |             4,698,827 |
| Total number of shares of common stock available for grant under the 2015 Plan(3)                                                         |     |             5,058,583 |
| Total number of shares of common stock available for grant under other equity incentive plans                                             |     |                     — |
| Total number of additional shares of common stock requested in this Proposal 4                                                            |     |             4,500,000 |
| Total number of shares of common stock available for grant under the Amended 2015 Plan if this Proposal 4 is approved by our stockholders |     |             9,558,583 |
| Total number of shares of common stock outstanding                                                                                        |     |           108,732,964 |
| Per-share closing price of common stock as reported on Nasdaq Global Select Market                                                        |     |                 27.65 |

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(1) As of the record date, outstanding options had a weighted-average remaining term of 2.83 years and a weighted-average exercise price of $14.96. Such outstanding options are not entitled to any dividends or dividend equivalent rights.

(2) We refer to an “appreciation award” as a stock option or stock appreciation right with an exercise or strike price of at least 100% of the fair market value of the underlying common stock on the date of grant, and a “full value award” as any stock award that is not an appreciation award.

(3) Each share issued as a full value award reduces the number of shares available for grant under the Amended 2015 Plan by 1.8 shares.

We Manage Our Equity Incentive Award Use Carefully, and Dilution Is Reasonable

We continue to believe that equity incentive awards such as service-based restricted stock unit awards, performance-based restricted stock unit awards and stock options are a vital part of our overall compensation program. Our compensation philosophy reflects broad-based eligibility for equity incentive awards, and we grant awards to a majority of our employees. However, we recognize that equity incentive awards dilute existing stockholders, and, therefore, we must responsibly manage the growth of our equity compensation program. We are committed to effectively monitoring our equity compensation share reserve, including our “burn rate,” to ensure