Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is currently listed on the Nasdaq Global Select Market under the symbol “IRDM.” As of February 6, 2026, there were 131 holders of record of our common stock.
Dividends
Stockholders are entitled to receive, when and if declared by our Board of Directors from time to time, dividends and other distributions in cash, stock or property from our assets or funds legally and contractually available for such purposes. In March 2025 and May 2025, our Board of Directors approved dividends of $0.14 per share of common stock, which were paid on March 31, 2025 and June 30, 2025 to stockholders of record as of March 17, 2025 and June 13, 2025, respectively. In July 2025 and December 2025, our Board of Directors approved dividends of $0.15 per share of common stock, which were paid on September 30, 2025 and December 31, 2025 to stockholders of record as of September 15, 2025 and December 15, 2025, respectively. We made total dividend payments of $ 62.9 million during 2025. Our liability related to dividends on common stock was $ 3.5 million and $ 2.5 million as of December 31, 2025 and 2024, respectively.
We currently expect that comparable cash dividends will continue to be paid in the future, although future dividends will depend on our earnings, capital requirements, financial conditions and other factors considered relevant by the Board.
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Stock Price Performance Graph
The graph below compares the cumulative total return of our common stock from December 31, 2020 through December 31, 2025, with the comparable cumulative return of three indices, the S&P 500 Index, the Dow Jones Industrial Average Index and the Nasdaq Telecommunications Index. The graph plots the growth in value of an initial investment of $100 in each of our common stock, the S&P 500 Index, the Dow Jones Industrial Average Index and the Nasdaq Telecommunications Index over the indicated time periods. The stock price performance shown on the graph is not necessarily indicative of future price performance. The following stock price performance graph shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, nor shall this information be incorporated by reference into any future filing under the Securities Act or the Exchange Act or any other document, except to the extent that we specifically incorporate it by reference into such filing or document.
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Issuer Purchases of Equity Securities
The following table presents our monthly share repurchases for the quarter ended December 31, 2025:
Period (a)
Total number of shares purchased (b)
Average price paid per share (c)
Total number of shares purchased as part of publicly announced plans or programs (d)
Maximum dollar value of shares that may yet be purchased under the plans or programs
October 1-31 — $— — $245.3 million
November 1-30 — $— — $245.3 million
December 1-31 — $— — $245.3 million
Total — $— — $245.3 million
Since initiating share repurchases in February 2021, our Board of Directors has authorized the repurchase of an aggregate of $1,500.0 million of our common stock, including a share repurchase program announced in September 2024, to repurchase up to $500.0 million through December 31, 2027. During the fourth quarter of 2025, we paused share repurchases under the current program.
Item 6. [Reserved].