On February 26, 2026, the Compensation Committee of Iridium Communications Inc. approved the Annual Performance Bonus Plan for eligible employees including CEO, CFO, and NEOs, providing cash or RSU bonuses based on corporate and individual performance goals up to 200% of target. The Committee also adopted the Executive Severance Plan, offering severance payments and benefits to executives upon qualifying terminations, including enhanced provisions for change in control terminations.
Key takeaways
Compensation Committee approved Annual Performance Bonus Plan on February 26, 2026, effective for performance periods starting January 1, 2026
Bonus Awards based on target bonus (base salary times percentage) multiplied by corporate achievement factor and personal performance factor (0%-150%), capped at 200% of target
Annual Bonus Plan payable in cash, RSUs, or combination; RSUs under Amended and Restated 2015 Equity Incentive Plan
Adopted Executive Severance Plan for CEO, CFO, and NEOs requiring participation agreements
Non-CIC severance: 18 months base salary (CEO)/12 months (other NEOs), prorated target bonus, COBRA for 12 months
CIC severance: 2X (CEO)/1.5X (other NEOs) base plus target bonus lump sum, full equity vesting acceleration