Iridium director Pfeiffer to retire; annual comp awards set for executives

Iridium Communications Inc.

Director Steven B. Pfeiffer will retire and not stand for re-election at May 2022 annual meeting; no disagreement.
CEO Desch receives performance share target award of $2.5M (max $3.75M) tied to 2022-2023 service revenue growth.
CFO Fitzpatrick and COO McBride each get $1.25M target awards; EVPs Hartin and Scheimreif get $625K each.
2022 Bonus Plan sets target bonus percentages: CEO 90%, CFO/COO 75%, EVPs 60%.
60% of target bonus paid in RSUs granted March 1, 2022; vest in March 2023 based on OEBITDA and strategic goals.

item 5.02

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Departed

Steven B. Pfeiffer

Director

IRDM · Iridium Communications Inc.

Filed: February 16, 2022, 6:59 PM ET

On February 15, 2022, Steven B. Pfeiffer notified the Board of Directors of Iridium Communications Inc. (the “Registrant”) that he will be retiring as a member of the Board of Directors of the Registrant and therefore will not stand for re-election at the Registrant’s 2022 Annual Meeting of Stockholders to be held in May 2022 (the “Annual Meeting”).

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Executive change SEC 8-K Item 5.02 confidence 0.95

Steven B. Pfeiffer departed as Director at Iridium Communications Inc..

Action: retiring
Role: Director

Exact text from the filing

On February 15, 2022, Steven B. Pfeiffer notified the Board of Directors of Iridium Communications Inc. (the “Registrant”) that he will be retiring as a member of the Board of Directors of the Registrant and therefore will not stand for re-election at the Registrant’s 2022 Annual Meeting of Stockholders to be held in May 2022 (the “Annual Meeting”).

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Iridium Communications Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-044353

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