Company: IRDM
Filing Date: 2025-03-17
Form Type: PRE 14A
Source: 0001628280-25-013200
Chunk: 76

Company: Iridium Communications Inc.
Filing Date: 2025-03-17
Form: PRE 14A
Chunk 76
---
 well as incremental equipment and engineering services revenue over the coming years from both government and commercial customers. This was our first ever acquisition of another company, and we substantially completed integration of the business by the end of 2024.

Important Features of our Executive Compensation Program. Our executive compensation program is designed to attract, reward and retain a talented, innovative and entrepreneurial team of executives to fulfill our business objectives. To do so, we believe that a majority of our executives’ target compensation should be based on performance, both of the individual and of our business. We structure our variable compensation programs to recognize both short-term and long-term contributions. 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. Additionally, we typically pay a portion of each annual incentive bonus granted to our employees, including executives, in the form of equity awards, which further aligns the executives’ annual incentive with the value of our common stock. For 2024, the first 60% of each executive’s target annual incentive bonus award was paid in the form of restricted stock units, or RSUs, that vested only upon the Compensation Committee’s certification of achievement of pre-established performance goals and continued service through the vesting date in March 2025. The remaining portion of the annual incentive bonus was paid in cash.

• Significant Percentages of Compensation At-Risk – Our executive compensation is heavily weighted toward at-risk, performance-based compensation in the form of an annual incentive bonus opportunity and long-term equity program which are earned based on performance and continued service. As reflected in the charts below, in 2024, at-risk compensation represented nearly 90% 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. In 2024, at-risk compensation consisted of (i) annual incentive bonus awards paid in RSUs and cash and (ii) long-term service-based and performance-based RSU grants.

<div align='center'>44</div>

• 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