secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2026-02-27T23:59:59+00:00
Accession:  0001418819-26-000014
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Iridium adopts new annual bonus plan and executive severance plan for 2026
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- 2026 bonus plan: target award = salary × committee-approved %; actual capped at 200% of target.
- Bonus can be paid in cash, RSUs, or both; recoupable under clawback policy.
- Severance plan: CEO gets 18 months' salary non-CIC, 2X (salary + target bonus) in CIC; other NEOs get 12 months or 1.5X.
- CIC severance includes 100% equity acceleration; benefits require waiver, non-compete, non-solicit compliance.
- Plan supersedes prior severance terms in employment agreements for participating executives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000141881926000014/0001418819-26-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000141881926000014/irdm-20260226.htm
  HTML page:      https://secwatch.observer/filing/0001418819-26-000014

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