Iridium adopts annual bonus plan and executive severance plan

Reuters02-28 05:03

Iridium adopts annual bonus plan and executive severance plan

Iridium Communications Inc. said its board compensation committee approved a new Annual Performance Bonus Plan effective for performance periods starting Jan. 1, 2026, with awards paid in cash, restricted stock units, or a mix based on corporate and individual goals. Bonus awards are based on base salary and a target percentage, adjusted by a corporate achievement factor and a personal performance factor of 0% to 150%, and capped at 200% of target. The committee also adopted an Executive Severance Plan providing severance for the CEO and other named executive officers after certain qualifying terminations. Benefits include salary-based cash severance, prorated or target bonus payments, up to 12 months of COBRA premium payments, and payment of any earned but unpaid prior-year bonus, with enhanced change-in-control terms including lump-sum payouts and 100% accelerated vesting of outstanding equity awards.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iridium Communications Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001418819-26-000014), on February 27, 2026, and is solely responsible for the information contained therein.

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