---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-040185"
form_type: "8-K"
ticker: "IRDM"
cik: "0001418819"
company_name: "Iridium Communications Inc."
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T11:01:12.309988+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Iridium approves 2023 performance share awards and bonus plan for executives

## Summary
- CEO Matthew Desch gets $3.5M target award ($5.25M max) under performance share program.
- Performance goal is growth of average service revenue for 2023-2024 excluding Russian ops.
- CEO target bonus percentage 100% of base salary; CFO and COO at 80%; EVPs at 65%.
- Bonus awards capped at 180% of target; 60% in restricted stock units, rest in cash.
- Awards vest 50% in Q1 2025 and 50% in March 2026, subject to continued employment.

## SEC filing metadata
- accession: 0001193125-23-040185
- form_type: 8-K
- ticker: IRDM
- cik: 0001418819
- company_name: Iridium Communications Inc.
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418819/000119312523040185/0001193125-23-040185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418819/000119312523040185/d273261d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-040185
- JSON: https://secwatch.observer/filing/0001193125-23-040185.json
- Plain text: https://secwatch.observer/filing/0001193125-23-040185.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.