MATTHEW J. DESCH - 22 Feb 2023 Form 4 Insider Report for Iridium Communications Inc. (IRDM)

Role: Chief Executive Officer, Director
Signature: /s/Brian Leaf, Attorney-in-Fact
Issuer symbol: IRDM
Transactions as of: 22 Feb 2023
Net transactions value: -$5,022,974
Form type: 4
Filing time: 24 Feb 2023, 15:46:11 UTC
Previous filing: 13 Jan 2023
Next filing: 02 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IRDM	Common Stock	Options Exercise	$1,262,670	+193,661	+37%	$6.52^*	712,125	22 Feb 2023	Direct
transaction	IRDM	Common Stock	Sale	$6,285,644	-100,058	-14%	$62.82	612,067	22 Feb 2023	Direct	F1, F2
transaction	IRDM	Common Stock	Gift	$0	-6,300	-1%	$0.000000	605,767	22 Feb 2023	Direct
transaction	IRDM	Common Stock	Gift	$0	-9,500	-1.6%	$0.000000	596,267	23 Feb 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IRDM	Employee Stock Option (Right to Buy)	Options Exercise	$0	-193,661	-100%	$0.000000^*	0	22 Feb 2023	Common Stock	193,661	$6.52	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These sales were for the sole purpose of paying the exercise price of the option reported on Table II of this form and the associated tax withholding obligations.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.51 to $63.17, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this form Form 4.
F3	Fully vested and immediately exercisable. These options vested as to 25% of the shares on March 1, 2015 and quarterly thereafter in equal installments on each June 1, September 1 and December 1 through March 1, 2018.