Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 123

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 123
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577,304; 2020 - $ 544,258; (4) the vesting date fair value of shares granted and vested in the current year: 2024 - $ 496,668; (5) the average change as of the vesting date (from the end of the prior year) in fair value of awards granted in a prior year for which all applicable vesting conditions were satisfied during the year: 2024 - $( 805,385); 2023 - $ 324,897; 2022 - $( 9,392); 2021 - $ 74,709; 2020 - $ 116,466; and (6) for awards granted in a prior year that failed to meet the applicable vesting conditions during the year, the average fair value of such awards at the end of the prior year: 2024 - $ 0; 2023 - $ 0; 2022 - $ 0; 2021 - $ 0; 2020 - $( 6,745).

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(5) The peer group used in this disclosure is the Nasdaq Telecommunications Index, which is our peer group used for purposes of Item 201(e) of Regulation S-K. The peer group used by our Compensation Committee for 2024 compensation decisions is described on page 51 of this proxy statement.

(6) “Operational EBITDA” or “OEBITDA” is the financial performance measure from the tabular list of 2024 Most Important Measures shown below, which, in our company’s assessment, represents the most important financial performance measure used to link compensation actually paid to our NEOs for 2024 to our performance. OEBITDA is defined as earnings before interest, income taxes, depreciation and amortization, gain (loss) on equity method investments, acquisition and related costs, share-based compensation expenses, and, for 2020 only, certain expenses associated with the construction of our Iridium NEXT satellite constellation, primarily in-orbit insurance. We consider the loss on early extinguishment of debt to be financing-related costs associated with interest expense or amortization of financing fees, which by definition are excluded from OEBITDA.

Required Tabular Disclosure of Most Important Measures

The most important performance measures used to link compensation actually paid to our NEOs for 2024 to our performance are set forth below. For further information regarding OEBITDA and adjusted service revenue and