PAUL E. JACOBS - 05 Mar 2024 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role
Chief Executive Officer, Director
Signature
/s/ Arthur McMahon, III attorney-in-fact for Dr. Paul E. Jacobs
Issuer symbol
GSAT
Transactions as of
05 Mar 2024
Net transactions value
+$66,214
Form type
4
Filing time
07 Mar 2024, 20:52:05 UTC
Previous filing
04 Jan 2024
Next filing
20 May 2024
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 Award $170,001 +127,820 +478% $1.33 154,558 05 Mar 2024 Direct F1
transaction GSAT Voting Common Stock Tax liability $103,787 -78,035 -50% $1.33 76,523 05 Mar 2024 Direct F2
holding GSAT Voting Common Stock 1 05 Mar 2024 By XCOM Labs, Inc. F3
holding GSAT Voting Common Stock 16,745,989 05 Mar 2024 By Trust F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Award of Restricted Stock under Globalstar, Inc.'s Equity Incentive Plan, which vested immediately upon the grant.
F2 Shares automatically withheld, based on the fair market value of the Common Stock on the vesting date, to pay required withholding taxes upon the vesting of the Restricted Stock Award reported above.
F3 Represents shares held by XCOM, a corporation controlled by the reporting person.
F4 Represents shares acquired by The Paul Eric Jacobs Trust, DTD April 9, 2018 in exchange for forgiveness of XCOM debt.