Iridium Communications Management

Management criteria checks 3/4

Iridium Communications' CEO is Matt Desch, appointed in Sep 2006, has a tenure of 18.17 years. total yearly compensation is $9.02M, comprised of 10.9% salary and 89.1% bonuses, including company stock and options. directly owns 0.74% of the company’s shares, worth €22.37M. The average tenure of the management team and the board of directors is 8.8 years and 14 years respectively.

Key information

Matt Desch

Chief executive officer

US$9.0m

Total compensation

CEO salary percentage	10.9%
CEO tenure	18.2yrs
CEO ownership	0.7%
Management average tenure	8.8yrs
Board average tenure	14yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Matt Desch's remuneration changed compared to Iridium Communications's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$114m
Jun 30 2024	n/a	n/a	US$88m
Mar 31 2024	n/a	n/a	US$25m
Dec 31 2023	US$9m	US$981k	US$15m
Sep 30 2023	n/a	n/a	-US$23m
Jun 30 2023	n/a	n/a	-US$20m
Mar 31 2023	n/a	n/a	US$16m
Dec 31 2022	US$7m	US$952k	US$9m
Sep 30 2022	n/a	n/a	US$4m
Jun 30 2022	n/a	n/a	-US$588k
Mar 31 2022	n/a	n/a	-US$1m
Dec 31 2021	US$5m	US$956k	-US$9m
Sep 30 2021	n/a	n/a	-US$11m
Jun 30 2021	n/a	n/a	-US$13m
Mar 31 2021	n/a	n/a	-US$30m
Dec 31 2020	US$4m	US$957k	-US$56m
Sep 30 2020	n/a	n/a	-US$156m
Jun 30 2020	n/a	n/a	-US$170m
Mar 31 2020	n/a	n/a	-US$178m
Dec 31 2019	US$4m	US$927k	-US$166m
Sep 30 2019	n/a	n/a	-US$68m
Jun 30 2019	n/a	n/a	-US$65m
Mar 31 2019	n/a	n/a	-US$51m
Dec 31 2018	US$3m	US$900k	-US$24m
Sep 30 2018	n/a	n/a	US$124m
Jun 30 2018	n/a	n/a	US$164m
Mar 31 2018	n/a	n/a	US$192m
Dec 31 2017	US$3m	US$874k	US$218m

Compensation vs Market: Matt's total compensation ($USD9.02M) is above average for companies of similar size in the German market ($USD1.93M).

Compensation vs Earnings: Matt's compensation has been consistent with company performance over the past year.

CEO

Matt Desch (66 yo)

18.2yrs

Tenure

US$9,017,273

Compensation

Mr. Matthew J. Desch, also known as Matt, has been the Chief Executive Officer at Iridium Satellite LLC since September 21, 2006. Mr. Desch has been the Chief Executive Officer of Iridium Communications In...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Matthew Desch	CEO & Director	18.2yrs	US$9.02m	0.74% € 22.4m
Thomas Fitzpatrick	CFO, Chief Administrative Officer & Director	14.6yrs	US$3.59m	0.13% € 4.0m
Suzanne McBride	COO & Director	5.8yrs	US$3.36m	0.078% € 2.4m
Bryan Hartin	Executive Vice President of Sales & Marketing	11.9yrs	US$2.18m	0.040% € 1.2m
Scott Scheimreif	Executive Vice President of Government Programs	11.9yrs	US$2.15m	0.10% € 3.1m
Gregory Pelton	Chief Technical Officer	3.4yrs	no data	no data
Manjula Sriram	VP & Chief Information Officer	2.8yrs	no data	no data
Kenneth Levy	Vice President of Investor Relations	no data	no data	no data
Kathleen Morgan	Chief Legal Officer & Company Secretary	2.8yrs	no data	0.024% € 739.3k
Timothy Last	Senior Vice President of Sales	no data	no data	no data
Michael O'Connor	Executive Vice President of Positioning	less than a year	no data	no data
Donald Thoma	President & CEO of Aireon LLC	12.8yrs	US$1.29m	no data

8.8yrs

Average Tenure

60yo

Average Age

Experienced Management: 6IC's management team is seasoned and experienced (8.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Matthew Desch	CEO & Director	15.2yrs	US$9.02m	0.74% € 22.4m
Thomas Fitzpatrick	CFO, Chief Administrative Officer & Director	11.3yrs	US$3.59m	0.13% € 4.0m
Suzanne McBride	COO & Director	4.5yrs	US$3.36m	0.078% € 2.4m
Leon Frazier	Independent Director	3.7yrs	US$272.65k	0.015% € 469.6k
Robert Niehaus	Independent Chairman of the Board	16.8yrs	US$377.52k	0.12% € 3.6m
Thomas Canfield	Independent Director	16.8yrs	US$374.44k	0.032% € 976.7k
Arthur Money	Member of Government Advisory Board	no data	no data	no data
Alvin Krongard	Independent Director	15.2yrs	US$327.98k	0.36% € 10.9m
Lance Lord	Member of Government Advisory Board	no data	no data	no data
John Campbell	Chairman of The Government Advisory Board	no data	no data	no data
Eric Olson	Independent Director	12.9yrs	US$343.26k	0.0043% € 131.9k
Douglas Fraser	Member of The Government Advisory Board	no data	no data	no data

14.0yrs

Average Tenure

68yo

Average Age

Experienced Board: 6IC's board of directors are seasoned and experienced ( 14 years average tenure).

Iridium Communications Management

Management criteria checks 3/4

Key information

Recent management updates

Iridium Communications Inc. Announces Chief Financial Officer Changes

Iridium Communications Inc. Announces Chief Financial Officer Changes

Iridium Communications Inc., Annual General Meeting, May 21, 2024

CEO & Director recently bought €947k worth of stock

Parker W. Rush to Retire as Member of the Board of Directors of Iridium Communications Inc., Effective as of December 31, 2023

Insufficient new directors

Recent updates

Investor sentiment deteriorates as stock falls 17%

Third quarter 2024 earnings released: EPS: US$0.21 (vs US$0.013 loss in 3Q 2023)

Iridium Communications Inc. Updates Earnings Guidance for the Year 2024

Iridium Communications Inc. to Report Q3, 2024 Results on Oct 17, 2024

Iridium Communications Inc. (NasdaqGS:IRDM) announces an Equity Buyback for $500 million worth of its shares.

Iridium Communications Inc. Unveils Iridium Certus GMDSS: Defining A New Standard in Maritime Safety and Communications

Second quarter dividend of US$0.14 announced

Iridium Communications Inc. Announces Chief Financial Officer Changes

Iridium Communications Inc. Announces Chief Financial Officer Changes

Second quarter 2024 earnings released: EPS: US$0.27 (vs US$0.24 loss in 2Q 2023)

Iridium Communications Inc. Reiterates Earnings Guidance for the Full Year 2024

Iridium Communications Inc. to Report Q2, 2024 Results on Jul 23, 2024

Adtran and Iridium Communications Inc. Strengthens PNT resilience in Europe and Asia-Pacific with Satellite Time and Location Technology

First quarter dividend of US$0.14 announced

Iridium Communications Inc. Declares Cash Dividend on Its Common Stock, Payable on June 28, 2024

Iridium Communications Inc. Provides Earnings Guidance for the Full Year 2024

First quarter 2024 earnings released: EPS: US$0.16 (vs US$0.077 in 1Q 2023)

Iridium Communications Inc. (NasdaqGS:IRDM) completed the acquisition of 80% stake in Satelles, Inc.

Iridium Communications Inc., Annual General Meeting, May 21, 2024

Iridium Communications Inc. to Report Q1, 2024 Results on Apr 18, 2024

Upcoming dividend of US$0.13 per share

Iridium Communications Inc. (NasdaqGS:IRDM) agreed to acquire a 80% stake in Satelles, Inc. for $115 million.

Fourth quarter dividend of US$0.13 announced

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$0.12 (vs US$0.068 in FY 2022)

Iridium Communications Inc. Plans to Increase Quarterly Dividend Starting with the Second Quarter 2024

Iridium Communications Inc. to Report Q4, 2023 Results on Feb 15, 2024

CEO & Director recently bought €947k worth of stock

Iridium Communications Inc. Updates Earnings Guidance for the Full Year 2023

Third quarter 2023 earnings released: US$0.013 loss per share (vs US$0.017 profit in 3Q 2022)

Iridium Communications Inc. to Report Q3, 2023 Results on Oct 19, 2023

Parker W. Rush to Retire as Member of the Board of Directors of Iridium Communications Inc., Effective as of December 31, 2023

Iridium Communications Inc. (NasdaqGS:IRDM) announces an Equity Buyback for $400 million worth of its shares.

Iridium Communications Inc. Reiterates Revenue Guidance for the Full-Year 2023

Second quarter 2023 earnings released: US$0.24 loss per share (vs US$0.036 profit in 2Q 2022)

Iridium Communications Inc. to Report Q2, 2023 Results on Jul 25, 2023

Upcoming dividend of US$0.13 per share at 0.8% yield

Insufficient new directors

Iridium Communications Inc. Appoints Jacqueline Yeaney to Its Board of Directors

Insider recently sold €967k worth of stock

Iridium Communications Inc. Declares Cash Dividend, Payable on June 30, 2023

Insider recently sold €266k worth of stock

First quarter 2023 earnings released: EPS: US$0.077 (vs US$0.022 in 1Q 2022)

Independent Director recently sold €258k worth of stock

Now 20% undervalued

COO & Director recently sold €267k worth of stock

Independent Chairman of the Board recently sold €4.2m worth of stock

Full year 2022 earnings released: EPS: US$0.068 (vs US$0.07 loss in FY 2021)

Iridium Communications Inc. Provides Service Revenue Guidance for the Full Year 2023

Iridium Communications Inc. to Report Q4, 2022 Results on Feb 16, 2023

Iridium Communications Inc. Introduces Its Next Generation Satellite IoT Data Service

Iridium Communications Inc. Announces Quarterly Dividend Program, Payable on March 30, 2023

Third quarter 2022 earnings released: EPS: US$0.017 (vs US$0.016 loss in 3Q 2021)

Iridium Communications Inc. Provides Financial Guidance for 2022

Iridium Communications Inc. to Report Q3, 2022 Results on Oct 20, 2022

Iridium Announces Ninth SpaceX Launch

Independent Director recently sold €130k worth of stock

Iridium Communications Inc. Revises Revenue Guidance for the Full Year 2022

Second quarter 2022 earnings released: EPS: US$0.036 (vs US$0.029 in 2Q 2021)

Iridium Communications Inc. to Report Q2, 2022 Results on Jul 26, 2022

Iridium Communications Inc. Names Kay Sears to Board of Directors

First quarter 2022 earnings released

Iridium Communications Inc. Reiterates Earnings Guidance for the Full Year 2022

Steven Pfeiffer Not Stand for Re-Election as Director of Iridium Communications Inc

Iridium Communications Inc. to Report Q1, 2022 Results on Apr 19, 2022

Independent Director recently sold €109k worth of stock

Insider recently sold €104k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Forecast breakeven date pushed back to 2023