Annual General Meeting Transcript - IRDM 2026-05-20

Robert H. Niehaus, Chairman

Good morning. I am Bob Niehaus, Chairman of the Board of Iridium Communications, Inc. I am happy to welcome you to Iridium's 2026 Annual Meeting of Stockholders. We are joined today by each of our nominees for our board, our executive officers, and some of our advisors, including KPMG and Hogan Lovells, our outside counsel. Before we get started with the business at hand, I will ask Kathy Morgan, our Chief Legal Officer, and Secretary to run through a few logistics.

Kathleen A. Morgan, Other

Thanks, Bob, and good morning, everyone. We appreciate you joining us. If you are logged in as a stockholder this morning, you will see sections on your screen for voting and also for submitting questions. After we have concluded the business of the annual meeting, our CEO and board member, Matt Desch, will be available to respond to appropriate shareholder questions or direct them to others, including representatives of KPMG. Please send questions in now, and time permitting, we will address them in our call today. With that, I will turn things over to Bob.

Robert H. Niehaus, Chairman

The meeting is now officially called to order. we will proceed with the formal business of the meeting as set forth in your notice of annual meeting and proxy statement. Will the Secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholder list?

Kathleen A. Morgan, Other

I have at this meeting a complete list of the stockholders of record of the company's common stock at the close of business on March 23, 2026, the record date for this meeting. I also have an affidavit certifying that on April 2, 2026, a notice of annual meeting of stockholders of the company was deposited in the United States Mail to all stockholders of record at the close of business on March 23rd, 2026.

Robert H. Niehaus, Chairman

At this time, I'd like to introduce Crystal Pauley of American Election Services, LLC, who is also on the line and has been appointed to act as the inspector of election of this meeting. Ms. Pauley has taken and subscribed the customary oath of office to execute. We will file this oath with the records of the meeting. Her function is to decide upon the qualifications of voters, accept their votes, and when balloting on all matters is completed, to tally the final votes. Will the Secretary please report at this time with respect to the existence of a quorum?

Kathleen A. Morgan, Other

I've been informed by the Inspector of Election that proxies have been received for 85,796,116 of the 105,717,973 shares of common stock outstanding on the record date, which represents approximately 81.15% of the total number of outstanding shares. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting.

Robert H. Niehaus, Chairman

We will now proceed with the formal business of this meeting. There are four proposals to be considered by the stockholders of this meeting. The Secretary will now describe the voting procedures.

Kathleen A. Morgan, Other

The time is now 8.32 a.m. on Wednesday, May 20, 2026, and the polls are open for voting on all matters to be presented. Any stockholder who has not yet voted or wishes to change their vote may do so by clicking the voting button displayed on their screen and following the instructions shown. Stockholders who do not want to change their vote do not need to take any further action. The polls will be closed to voting after we go through the matters to be voted on.

Robert H. Niehaus, Chairman

The first item of business is the election of 11 directors to serve until the 2027 annual meeting and until their successors are elected. The nominees for director are as set forth and our proxy statement are as follows. Myself, Bob Niehaus, Louis M. Alterman, Thomas C. Canfield, Matthew J. Desch, who is also our CEO, Thomas J. Fitzpatrick, L. Anthony Frazier, Suzanne E. McBride, who is also our COO, Admiral Eric T. Olson-Retired, K. N. Sears, Monique S. Shivananden, and Jacqueline Yeni. The second item of business today is the advisory vote on the executive compensation of the company's named executive officers as disclosed in the proxy statement. Stockholders have been asked to vote on an advisory basis on the following resolution. Resolved that the compensation page of the company's named executive officers as disclosed pursuant to compensation disclosure rules of the Securities and Exchange Commission, including the compensation discussion and analysis, compensation tables, and any related information disclosed in this proxy statement is hereby approved. The third item of business today is the ratification of the selection by the Board of Directors of KPMG LLP as the independent registered public accounting firm in the company for the fiscal year ending December 31, 2020. The fourth item of business today is the approval of the company's amended and restated 2015 equity incentive plan. That was the final proposal for today's meeting. The Secretary will now close the polls.

Kathleen A. Morgan, Other

The polls are about to close. If you have not yet voted, please do so. The time is now 8.34, and the polls are now closed for voting.

Robert H. Niehaus, Chairman

May we have the results of the voting?

Kathleen A. Morgan, Other

The preliminary report of the Inspector of Election covering the proposals presented at this meeting is as follows. The proposal to elect 11 nominees as directors of the company is carried, with each director receiving votes from at least 94.4% of the shares voting. The resolution concerning the advisory vote on the compensation paid to the company's named executive officers is approved with approximately 86.06 voting in favor, 13.14% opposed, and 0.79% abstaining. The appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026 is ratified with approximately 99.77 percent voting in favor, 0.12 percent opposed, and 0.1 percent abstaining. The proposal to approve the company's amended and restated 2015 equity incentive plan, as described in the proxy statement, is approved with approximately 90.8 percent voting in favor, 9.04 percent opposed, and 0.14 percent abstaining.

Robert H. Niehaus, Chairman

Thank you. A full tally the final votes will be published in a current report on form 8k which will be filed with the securities and exchange commission within four business days this concludes the formal portion of today's meeting this meeting is adjourned i would like to thank you all for attending i will now turn things over to matt to take any questions that may come in

Matthew J. Desch, CEO

okay um no questions have been received vote for attending the conference has now thank you the conference has now concluded. You may now disconnect.