Timothy E. Taylor - 14 Jun 2023 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role
VP, Finance & Operations, Director
Signature
/s/ Arthur McMahon, III, attorney-in-fact for Timothy E. Taylor
Issuer symbol
GSAT
Transactions as of
14 Jun 2023
Net transactions value
-$925,604
Form type
4
Filing time
20 Jun 2023, 16:57:15 UTC
Previous filing
12 May 2023
Next filing
22 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GSAT Voting Common Stock Sale $470,406 -395,000 -3.2% $1.19 11,858,649 14 Jun 2023 By Thermo Investments III, LLC F1, F2
transaction GSAT Voting Common Stock Sale $455,198 -395,000 -3.3% $1.15 11,463,649 15 Jun 2023 By Thermo Investments III, LLC F1, F3
holding GSAT Voting Common Stock 3,141,012 14 Jun 2023 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 28, 2022.
F2 The shares were sold in multiple transactions at prices ranging from $1.165 to $1.24 per share. The price reported reflects the volume weighted average price for the transactions. The reporting person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
F3 The shares were sold in multiple transactions at prices ranging from $1.14 to $1.18 per share. The price reported reflects the volume weighted average price for the transactions. The reporting person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.