What is the ruling on naming a male newborn "Iyad"?

The Sunnah in naming a newborn is that the name be good, based on the Prophet's (peace be upon him) saying: "Indeed, you will be called on the Day of Resurrection by your names and your fathers' names, so make your names good." From this recommendation, it is understood that one should name with any name that has a good meaning, such as the names of Prophets, angels, and Companions. It has been authentically reported that some Companions were named Iyad.