Iridium Communications IRDM board recently approved an additional share repurchase program worth $300 million to be executed by Dec 31, 2023. The company will provide more details regarding its new share buyback plan during its first-quarter 2022 earnings conference call to be held in April 2022.The latest buyback plan is the second one floated by Iridium in the past two years. In February 2021, the company announced a $300-million buyback plan. This takes the company’s total share repurchase authorization to $600 million over a three-year period.Iridium noted that the board of directors could extend or cut the share repurchase timeframe by executing any prospective transactions either in the open market (at prevailing prices) or in negotiated transactions (off the market).In the last reported quarter, Iridium repurchased 976,000 shares worth $38.3 million. As part of the previously-announced $300 million share buyback program, the company repurchased nearly 4.3 million shares worth $163.4 million in 2021. As of Dec 31, 2021, the company has nearly $136.6 million worth of shares remaining under its existing buyback.Headquartered in McLean, VA, Iridium Communications is a satellite communications company that offers an array of reliable and low latency communications services to businesses, consumers, wireline and wireless telecommunications operators and Internet service providers. The company also offers commercial satellite communication services to the U.S. and foreign governments as well as other non-governmental organizations.Looking ahead to 2022, Iridium expects commercial service revenues to benefit from growth in IoT, ongoing activations and solid uptake of the company’s broadband services.Iridium Communications Inc Price and Consensus Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote The company expects service revenues to increase between 5% and 7% in 2022. Iridium now expects full-year 2022 operational EBITDA (OEBITDA) between $400 million and $410 million.At present, Iridium carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Recent Buyback Plans By Other CompaniesA few days back, Fortive Corporation FTV approved a share repurchase program under which the company may purchase up to 20 million shares of its stock. The company can repurchase its shares on a voluntary basis from time to time on the open market or in privately-negotiated transactions under the new buyback program. This includes the use of trading plans that meet the prerequisites of Rule 10b5-1 under the Securities Exchange Act of 1934, added Fortive.In January 2022, SAP SE SAP announced a new up to €1-billion share repurchase program, which it will use to fund awards under the “Move SAP” share-based compensation scheme.The new €1-billion share repurchase plan is to be executed between Feb 1, 2022, and Dec 31, 2022. Earlier, SAP had repurchased 14 million shares worth €1.5 billion under its 2020 repurchase plan.In December 2021, Ciena Corporation CIEN inked an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC to buy back $250 million of the company’s stock.According to the ASR agreement, Ciena will pay $250 million to Goldman for an initial share delivery of approximately 2.7 million shares, accounting for nearly 80% of the expected share repurchases under the agreement. Final settlement of the transactions under the ASR agreement is estimated to take place during the fiscal quarter ending Apr 30, 2022. Just Released: Zacks' 7 Best Stocks for Today Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +25.4% per year. These 7 were selected because of their superior potential for immediate breakout. See these time-sensitive tickers now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ciena Corporation (CIEN): Free Stock Analysis Report SAP SE (SAP): Free Stock Analysis Report Iridium Communications Inc (IRDM): Free Stock Analysis Report Fortive Corporation (FTV): Free Stock Analysis Report To read this article on Zacks.com click here.