Company: IRDM
Filing Date: 2025-03-17
Form Type: PRE 14A
Source: 0001628280-25-013200
Chunk: 84

Company: Iridium Communications Inc.
Filing Date: 2025-03-17
Form: PRE 14A
Chunk 84
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 amounts selected by the Compensation Committee do not materially deviate from market practices and that target amounts provide fair compensation given individual and company performance. In particular, for 2024 compensation

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decisions, the Compensation Committee requested data from ClearBridge at the 25 th percentile, median and 75 th percentile of the peer group for base salary, target annual incentive bonus, aggregate target equity award grant value, and total target compensation. However, individual compensation decisions may deviate from peer data, as our Compensation Committee discussed the peer data and made the 2024 compensation decisions in the context of:

• the differences in our executives’ responsibilities and tenure, as compared to the executives in our peer group, as title is not always determinative of the comparability of role from one organization to another;

• the experiences, knowledge and business judgment of each executive;

• corporate and individual performance, which includes setting target compensation opportunities after taking into account, in a subjective fashion, performance in the prior year, as well as the anticipated demands on the executive in the coming year;

• the desire to maintain target pay opportunities and allocations between cash and equity at levels that were consistent with historical pay levels for each of our executives, given the responses to our past say-on-pay proposals;

• the Compensation Committee’s desire to increase the base salaries of our named executive officers from their fiscal 2023 levels in order to better align with market competitive data and reflect each executive officer’s responsibilities for 2024; and

• internal pay equity, which we view from the perspective that (1) the target total compensation of our executive officers, other than our chief executive officer, should be within two separate relatively narrow ranges, and (2) the target total compensation of our chief executive officer should be meaningfully higher than that of our other officers, in each case, given the relative weight of their responsibilities and ability to impact our corporate performance.

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Reasons for Providing, and Manner of Structuring, the Key Compensation Elements in 2024

We strive to recognize our executive team’s efforts by compensating our named executive officers for the increased demands associated with our business through three elements that are designed to reward performance in a simple and straightforward manner: (i) base salaries; (ii) annual, performance-based bonuses; and (iii) long-term equity awards. The purpose and key characteristics of each of these elements paid and awarded in 2024 are summarized below.

| Element                            |     |