{"url_path":"/sec/irdm/8-k/2026-07-07/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-07","source_url":"https://www.sec.gov/Archives/edgar/data/1418819/0001104659-26-081335-index.html","accession_number":"0001104659-26-081335","cik":"0001418819","ticker":"IRDM","issuer_name":"Iridium Communications Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1418819/0001104659-26-081335-index.html","primary_entity_key":"0001418819","primary_entity_name":"Iridium Communications Inc."},"word_count":404,"has_tables":true,"body_markdown":"**Item 5.02 Departure of Directors or Certain Officers; Election of\nDirectors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\nOn July 6, 2026, in connection with the Company’s previously\nannounced entry into the Agreement and Plan of Merger (the “Merger Agreement”), dated as of June 28, 2026, with Rocket Lab\nCorporation (“Rocket Lab”) and certain other parties thereto, pursuant to which Rocket Lab agreed to acquire the Company (the\n“Transaction”), the Compensation Committee of the Company’s Board of Directors approved cash retention awards (the “Retention\nAwards”) for the two named executive officers (“NEOs”) named below, pursuant to a cash-based retention program to promote\nemployee retention and incentivize efforts to consummate the Transaction. Each Retention Award will be paid in tranches, with 60% of the\nRetention Award (the “First Tranche Amount”) vesting and becoming payable on the date of the closing of the Transaction (the\n“Merger Closing Date”) and the remaining 40% of the Retention Award (the “Second Tranche Amount”) vesting and\nbecoming payable on the six-month anniversary of the Merger Closing Date, in each case subject to the recipient’s continued employment\nthrough the applicable vesting date (except as described below). In the event the Merger Agreement is terminated and the Transaction is\nnot consummated, 100% of the Retention Award will vest and become payable on the later of such termination date or June 28, 2027. In the\nevent of a recipient’s termination of employment under circumstances that would make the recipient eligible for severance payments\nor benefits under an applicable severance plan, policy or arrangement (a “Qualifying Termination”) prior to the Merger Closing\nDate, the recipient will receive a cash lump sum payment of the First Tranche Amount, and if such Qualifying Termination occurs on or\nafter the Merger Closing Date and prior to payment of the Second Tranche Amount, the recipient will receive a cash lump sum payment of\nthe Second Tranche Amount (in each case, subject to the recipient’s execution and non-revocation of a release of claims).\n\n \n\nThe foregoing summary of the Retention Awards is qualified in its entirety\nby reference to the form of retention award agreement, a copy of which will be filed with the Company’s Quarterly Report on Form\n10-Q for the quarter ending September 30, 2026.\n\n \n\nRetention Awards were granted to the following NEOs in the following\namounts:\n\n \n\n·Vincent J. O’Neill, Chief Financial Officer: $409,999.98; and\n\n·Kathleen A. Morgan, Chief Legal Officer and Corporate Secretary: $873,036.32.\n\n \n\n 3"}