Company: IRDM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015183
Chunk: 88

Company: Iridium Communications Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 88
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| Maximum Corporate Performance                    |     |             |     | 190%                         |     |                 |
| Actual Total Weighted Performance(2)             |     |             |     |                              |     | 113%            |

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(1) “Operational EBITDA” or “OEBITDA” is defined to equal the OEBITDA we report as full-year performance, as determined by the Compensation Committee. OEBITDA is defined as earnings before interest, income taxes, depreciation and amortization, income (loss) on equity method investments, net, share-based compensation expenses and acquisition and related costs. We consider the loss on early extinguishment of debt to be financing-related costs associated with interest expense or amortization of financing fees, which by definition are excluded from OEBITDA.

(2) Our 2024 bonus plan specified that payouts would be rounded to the closest payout percentage integer.

• Operational EBITDA:

• An operational EBITDA target of $466.0 million, weighted at 65%, with a potential stretch payout for performance above the target level, with a maximum additional payout of 65% for performance at or above 106.2% of the target, and a potential lesser payout for performance below target level, with zero payout below 97.6% of the target.

• Strategic Goals:

• New product launch – a 5% target weighting for keeping a specified new product on track for a launch date;

• New services launch – a 5% target weighting for keeping a specified new service on track for a launch date;

• U.S. government services – a 5% target weighting for operationalizing key services for the U.S. government;

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• NB-IoT – a 5% target weighting for demonstrating a specified level of NB-IoT capability in a lab environment to enable future commercial introduction;

• U.S. government contract performance – a stretch payout of up to an additional 5% for earning a specified average payout for all fees received from a contract awarded by the U.S. government;

• Human capital management – a stretch goal of up to 5% for improving specified metrics identified in the employee annual survey; and

• Acquisition integration – a stretch goal of up to 5% for the successful integration of an acquisition.

• Network and Quality Metrics:

• Service availability – a 5% target weighting for exceeding specified levels of service availability, with a potential stretch payout of up