Iridium approves additional $500M share repurchase, total authorizations now $1.5B

Iridium Communications Inc.

Board authorized $500M in common stock repurchases through Dec 31, 2027; largest authorization ever.
Cumulative share repurchase authorizations since inception in 2021 total $1.5B.
Previous authorizations: $300M (Feb 2021), $300M (Mar 2022), $400M (Jul 2023).
Company targets net leverage below 4.0x through 2026 and below 2.0x EBITDA by decade-end.
CEO cites strong free cash flow and commitment to shareholder-friendly capital returns.

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