Michael B. Targoff - 19 Nov 2021 Form 4 Insider Report for LORAL SPACE & COMMUNICATIONS INC.

Role
Director
Signature
/s/ Michael B. Targoff
Issuer symbol
N/A
Transactions as of
19 Nov 2021
Net transactions value
$0
Form type
4
Filing time
22 Nov 2021, 16:26:31 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LORL Common Stock Disposed to Issuer -81,872 -100% 0 19 Nov 2021 Direct F1
transaction LORL Common Stock Disposed to Issuer -24,533 -100% 0 19 Nov 2021 See Footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael B. Targoff is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each of these shares was converted into the right to receive one newly issued Class B common share of Telesat Corporation immediately prior to the effective time of the Merger (as defined in the Transaction Agreement) pursuant to the Transaction Agreement and Plan of Merger (as amended from time to time and including all exhibits and schedules thereto, the "Transaction Agreement"), dated as of November 23, 2020, as amended on June 24, 2021, by and among Loral Space & Communications Inc., Telesat Corporation, Telesat Canada, Telesat Partnership LP, Telesat CanHold Corporation, Lion Combination Sub Corporation, Public Sector Pension Investment Board and Red Isle Private Investments Inc., subject to the terms and conditions therein.
F2 These shares were owned by a charitable foundation of which Mr. Targoff is president and of which Mr. Targoff disclaimed beneficial ownership.