Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 82

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 82
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2023, ClearBridge provided the Compensation Committee with the following services:

• assisted the Compensation Committee with evaluating our executive and director compensation programs and made recommendations for our 2024 compensation programs to ensure that our programs remain competitive in attracting and retaining talented executives, directors and employees;

• assisted the Compensation Committee in reviewing and developing an updated group of peer companies to use as a reference in making 2024 compensation decisions;

• assisted with the further development of the Compensation Committee’s executive pay philosophy;

• evaluated corporate governance best practices;

• reviewed our equity incentive plan utilization;

• prepared an analysis of our compensation practices with respect to base salaries, annual bonuses and long-term incentive grants against market practices; and

• reviewed and provided recommendations on the compensation program for our non-employee directors.

In the fall of 2024, ClearBridge performed a similar set of services for our Compensation Committee in making its 2025 compensation decisions.

The Compensation Committee has the authority to hire and terminate its compensation consultant. We pay the cost for the consultant’s services. Representatives of the compensation consultant attend meetings of the Compensation Committee at the request of the Compensation Committee. The Chairman of the Compensation Committee also communicates separately with the compensation consultant at his discretion. If and as requested by the Compensation Committee, the compensation consultant gathers information from management necessary to perform its duties to the Compensation Committee. In addition, as described above, members of our legal department also meet separately with the compensation consultant to convey information on proposals that management may make to the Compensation Committee. ClearBridge has not provided any other services to us related to executive compensation or non-executive director compensation.

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The Compensation Committee regularly reviews the performance and independence of its compensation consultant and of each individual employee of the consulting firm who directly provides services to us. The Compensation Committee annually considers whether the compensation consultant should continue to serve as its independent advisor. The Compensation Committee requested information from the compensation consultant about potential conflicts of interest, and in particular, considered the fact that ClearBridge has not provided other executive compensation services to us and that the individual representatives of ClearBridge who work directly with the Compensation Committee have no other business or personal relationships with us, our management or the Board. The Compensation Committee also considered ClearBridge’s policies on ethics, stock ownership and conflicts of interest, and the fact that the total revenue that ClearBridge received from us in 2024 did not constitute a material percentage of its gross revenues. As a result, the Compensation Committee concluded that there was no conflict of interest with respect to Clear