Iridium Communications (NASDAQ:IRDM) stockholders approved all four proposals presented at the company’s 2026 annual meeting, including the election of directors, an advisory vote on executive compensation, the ratification of KPMG LLP as auditor and approval of an amended equity incentive plan.
Bob Niehaus, chairman of the board, opened the meeting and said the company was joined by its board nominees, executive officers and advisers, including representatives of KPMG and outside counsel Hogan Lovells. Kathleen Morgan, Iridium’s chief legal officer and secretary, reviewed meeting logistics and later reported the voting results.
Quorum and Voting Participation
According to Morgan, proxies were received for 85,796,116 of the 105,717,973 shares of common stock outstanding on the record date. That represented approximately 81.15% of outstanding shares and constituted a quorum for the meeting.
Board Nominees Elected
Stockholders elected 11 directors to serve until the 2027 annual meeting and until their successors are elected. The nominees, as listed in the company’s proxy statement, were:
- Bob Niehaus
- Louis M. Alterman
- Thomas C. Canfield
- Matthew J. Desch, Iridium’s chief executive officer
- Thomas J. Fitzpatrick
- L. Anthony Frazier
- Suzanne E. McBride, Iridium’s chief operating officer
- Admiral Eric T. Olson, Retired
- Kay M. Sears
- Monique S. Shivanandan
- Jacqueline E. Yeaney
Morgan said the director election proposal was carried, with each director receiving votes from at least 94.4% of the shares voting.
Executive Pay and Auditor Ratification
Stockholders also approved, on an advisory basis, the compensation paid to the company’s named executive officers as disclosed in the proxy statement. Morgan reported that approximately 86.06% voted in favor, 13.14% voted against and 0.79% abstained.
The appointment of KPMG LLP as Iridium’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026, was ratified by a wide margin. Approximately 99.77% of votes were cast in favor, with 0.12% opposed and 0.1% abstaining, according to the preliminary results.
Equity Incentive Plan Approved
Stockholders approved the company’s Amended and Restated 2015 Equity Incentive Plan, as described in the proxy statement. The proposal received approximately 90.8% support, while 9.04% voted against and 0.14% abstained.
Niehaus said the final vote tally will be published in a current report on Form 8-K to be filed with the Securities and Exchange Commission within four business days.
After the formal portion of the meeting was adjourned, Morgan said no stockholder questions had been received. The conference then concluded.
About Iridium Communications (NASDAQ:IRDM)
Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).
Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.
