Arthur L. Simon - Nov 19, 2021 Form 4 Insider Report for LORAL SPACE & COMMUNICATIONS INC. (LORL)

Role: Director
Signature: /s/ Arthur L. Simon
Stock symbol: LORL
Transactions as of: Nov 19, 2021
Transactions value $: $0
Form type: 4
Date filed: 11/22/2021, 04:28 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LORL	Restricted Stock Units	Disposed to Issuer		-15.9K	-100%		0	Nov 19, 2021	Common Stock	15.9K		Direct	F1, F2
transaction	LORL	Restricted Stock Units	Disposed to Issuer		-1.89K	-100%		0	Nov 19, 2021	Common Stock	1.89K		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Arthur L. Simon is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit, or RSU, represented a contingent right to receive one share of Common Stock of the Issuer or at the Issuer's election, the cash value thereof.
F2	The RSUs were fully vested prior to the Merger (as defined in the Transaction Agreement). Each RSU was settled in shares of Issuer Common Stock immediately prior to the Merger that were converted into the right to receive newly issued Class B variable voting shares of Telesat Corporation at the effective time of the Merger 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.
F3	In connection with the settlement of the reporting person's RSUs, the reporting person received a payment of shares of Issuer Common Stock equal to a cash value of $81,600. This payment was the result of an equitable adjustment to the RSUs in the form of a dividend equivalent right effected in connection with the payment in April 2012 by the Issuer to shareholders of a special dividend of Issuer Common Stock equal to $81,600.