Paul E. Jacobs - Sep 25, 2023 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role: Chief Executive Officer, Director
Signature: Paul E. Jacobs
Stock symbol: GSAT
Transactions as of: Sep 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 9/27/2023, 07:12 PM
Previous filing: Aug 31, 2023
Next filing: Jan 4, 2024

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	GSAT	Restricted Stock Units	Award	$0	+40.4M		$0.00	40.4M	Sep 25, 2023	Voting Common Stock	40.4M		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Globalstar, Inc. ("Globalstar"). The RSUs vest in tranches upon Globalstar's common stock achieving the following price thresholds based on the 60-day weighted average closing price per share (the "Price"): (i) 1,500,000 will vest when the Price is $2.00; (ii) 2,800,000 will vest when the Price is $2.50; (iii) 8,333,333 will vest when the Price is $3.00; (iv) 2,857,143 will vest when the Price is $3.50; (v) 6,250,000 will vest when the Price is $4.00; (vi) 2,222,222 will vest when the Price is $4.50; (vii) 10,000,000 will vest when the Price is $5.00; (viii) 1,666,667 will vest when the Price is $6.00; (ix) 1,428,571 will vest when the Price is $7.00; (x) 1,250,000 will vest when the Price is $8.00; (xi) 1,111,111 will vest when the Price is $9.00; and (xii) 1,000,000 will vest when the Price is $10.00.

Content

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Globalstar, Inc. ("Globalstar"). The RSUs vest in tranches upon Globalstar's common stock achieving the following price thresholds based on the 60-day weighted average closing price per share (the "Price"): (i) 1,500,000 will vest when the Price is $2.00; (ii) 2,800,000 will vest when the Price is $2.50; (iii) 8,333,333 will vest when the Price is $3.00; (iv) 2,857,143 will vest when the Price is $3.50; (v) 6,250,000 will vest when the Price is $4.00; (vi) 2,222,222 will vest when the Price is $4.50; (vii) 10,000,000 will vest when the Price is $5.00; (viii) 1,666,667 will vest when the Price is $6.00; (ix) 1,428,571 will vest when the Price is $7.00; (x) 1,250,000 will vest when the Price is $8.00; (xi) 1,111,111 will vest when the Price is $9.00; and (xii) 1,000,000 will vest when the Price is $10.00.