Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 87

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 87
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 of each executive’s target bonus opportunity was granted in the form of RSUs, or the Bonus RSUs, that were eligible to vest on March 2, 2025, upon the Compensation Committee certifying achievement of the performance goals in February 2025. The number of Bonus RSUs was calculated by dividing the target dollar amount by the closing price of the Company’s common stock on March 1, 2024, the date of grant of the Bonus RSUs.

• To the extent the Actual Bonus Award calculated according to the methodology above would exceed the dollar value of the Bonus RSUs on the date of grant, the excess amount would be paid to the executive in cash.

• To the extent the Actual Bonus Award calculated according to the methodology above would be less than the dollar value of the Bonus RSUs on the date of grant, the excess Bonus RSUs that did not vest would be forfeited by the executive.

• To be eligible for a bonus under the 2024 bonus plan, the executive was required to remain employed by or in service to us through the date upon which the Bonus RSUs actually vested in the first quarter of 2025, after the Compensation Committee certified achievement of the performance goals, and the date any amount of the Actual Bonus Award that exceeded the dollar value of the Bonus RSUs was to be paid in cash, except as otherwise provided in an executive’s employment agreement in connection with a termination of employment.

• For 2024, the corporate performance factor was the sum of the achievement levels of the corporate goals described below, and the target, maximum and actual performance weightings are summarized in the following table:

| Performance Goal                                 |     | Target      
 Performance 
 Weighting   |     | Potential Excess Achievement |     | Actual Weighted 
 Achievement     |
| Operational EBITDA(1)                            |     | 65%         |     | 0% to 65% on a sliding scale |     | 73%             |
| Strategic Goals                                  |     | 20%         |     | 0% to 15%                    |     | 15%             |
| Network and Quality Metrics                      |     | 15%         |     | 0% to 10%                    |     | 25%             |
| Total of Target Weighting                        |     | 100%        |     | —                            |     |                 |
| Total of Excess Potential Achievement Weightings |     | —           |     | 90%                          |     |