Sears Kay bought IRDM
December 29, 2023 · Form 4 insider transaction
Sears Kay bought 12 shares of Iridium Communications Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 5 days after the transaction.
Footnotes
On December 4, 2023, the Issuer announced that its board of directors declared a quarterly cash dividend in the amount of $0.13 per share of its common stock, payable on December 29, 2023 to stockholders of record of the common stock at the close of business on December 15, 2023 (the "Dividend"). The amount acquired in column 4 represents equivalent rights accrued on restricted stock units with respect to the Issuer's common stock ("Original RSUs") held by the reporting person as a result of the Dividend. Each dividend equivalent right entitles the reporting person to receive one share of the Issuer's common stock upon the settlement of the Original RSUs and is subject to the same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates. The grant of dividend equivalent rights was approved by the Issuer's board of directors pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended.