Bylaws add Delaware and federal forum-selection requirements

This is a routine governance amendment, not an operating update. Effective August 10, 2026, the board adopted amended bylaws adding an exclusive-forum provision; no financial results, guidance, capital action, or strategic change was disclosed (Amended and Restated Bylaws description).

The amendment channels most internal corporate lawsuits to Delaware. Derivative claims, fiduciary-duty claims, Delaware-law claims, and matters governed by the internal-affairs doctrine must generally be brought in Delaware Chancery Court—or federal court in Delaware if the Chancery Court lacks jurisdiction (Amended and Restated Bylaws description).

Securities Act claims are directed to federal district court. The provision requires claims arising under the Securities Act of 1933 to be filed in U.S. federal district courts, unless Iridium consents in writing to another forum (Amended and Restated Bylaws description).

Versus market expectations, the read is neutral. This is a narrow legal-process change with no disclosed change to Iridium’s economics or strategy, and the filing provides no indication that it was unexpected or tied to a current dispute.