Company: IRDM
Filing Date: 2025-03-17
Form Type: PRE 14A
Source: 0001628280-25-013200
Chunk: 118

Company: Iridium Communications Inc.
Filing Date: 2025-03-17
Form: PRE 14A
Chunk 118
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 and 2024 at target level of achievement; and (c) immediate vesting of all outstanding non-performance equity awarded in 2023 and 2024.

(2) Consists of (a) immediate vesting of the remaining portion of shares underlying performance-based RSUs granted in 2022 based on actual achievement, which was previously certified in the first quarter of 2024, (b) immediate vesting of all outstanding non-performance equity awarded in 2022, 2023 and 2024, and (c) vesting of the 2023 and 2024 performance-based RSUs. The payout of the performance-based awards would be dependent on actual performance and would not be paid until after certification of actual performance. For purposes of the table, the 2023 performance-based RSUs are reflected at actual performance levels, because performance has been determined, and the 2024 performance-based RSUs are reflected at target levels because performance has not been determined. Payments of certain of the accelerated awards under the sum of 70 program are subject to a six-month delay in compliance with Section 409A of the Internal Revenue Code.

(3) Consists of (a) 18 months of base salary; (b) a pro rata bonus based on actual achievement; (c) continuation of health benefits for employee and eligible dependents for 12 months from separation, and (d) the amounts payable under a qualifying “sum of 70” retirement as specified in footnote (2) above.

(4) Consists of (a) 18 months of base salary; (b) a pro rata bonus based on actual achievement; (c) continuation of health benefits for employee and eligible dependents for 12 months from separation; and (d) immediate vesting upon separation of all then-outstanding equity awards (including immediate vesting of all performance-based vesting equity awards at target level).

(5) Consists of (a) immediate vesting of all shares underlying Bonus RSUs; (b) immediate vesting of all shares underlying performance-based RSUs granted in 2023 and 2024 at target level of achievement; and (c) immediate vesting of all outstanding non-performance equity awarded in 2023 and 2024.

(6) Consists of (a) 12 months of base salary; (b) a pro rata bonus at target level; and (c) continuation of health benefits for employee and eligible dependents for 12 months from separation.

(7