---
schema_version: "secwatch.filing_event.v1"
accession: "0001418819-24-000010"
form_type: "8-K"
ticker: "IRDM"
cik: "0001418819"
company_name: "Iridium Communications Inc."
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:24:07.939143+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Iridium grants PSUs up to $7M to CEO; approves 2024 bonus plan with EBITDA target

## Summary
- CEO Target Award $3.25M (Max $7M); CFO/COO each $1.25M ($2.5M max); EVPs $750K ($1.5M max).
- PSU performance goals: 2025 Adjusted Service Revenue (ex-Russia) and combined 2024-25 Operational EBITDA (ex-Russia).
- 2024 Bonus Plan: CEO target 100% of salary, CFO/COO 80%, EVPs 65%; goals: OEBITDA, strategic goals, user satisfaction.
- PSUs vest 50% in Q1 2026, 50% March 2027; change of control triggers target award.
- Bonus: 60% of target via RSUs granted March 1, 2024, remainder cash; max 200% of target.

## SEC filing metadata
- accession: 0001418819-24-000010
- form_type: 8-K
- ticker: IRDM
- cik: 0001418819
- company_name: Iridium Communications Inc.
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000010/0001418819-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418819/000141881924000010/irdm-20240227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001418819-24-000010
- JSON: https://secwatch.observer/filing/0001418819-24-000010.json
- Plain text: https://secwatch.observer/filing/0001418819-24-000010.txt

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