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.

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