Paul E. Jacobs - Jun 28, 2024 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role
Chief Executive Officer, Director
Signature
/s/ Paul E. Jacobs
Stock symbol
GSAT
Transactions as of
Jun 28, 2024
Transactions value $
$3,344,659
Form type
4
Date filed
7/1/2024, 12:30 PM
Previous filing
May 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GSAT Voting Common Stock Other $8.14M +7.65M +765403600% $1.06 7.65M Jun 28, 2024 By Virewirx, Inc. (f/k/a XCOM Labs, Inc.) F1, F2, F3
transaction GSAT Voting Common Stock Sale -$4.8M -4.51M -58.93% $1.06 3.14M Jun 28, 2024 By Virewirx, Inc. (f/k/a XCOM Labs, Inc.) F4, F5
holding GSAT Voting Common Stock 76.5K Jun 28, 2024 Direct
holding GSAT Voting Common Stock 16.7M Jun 28, 2024 By Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents (i) 7,048,210 shares acquired as fees payable under the Support Services Agreement and (ii) 605,826 shares acquired as Holdback Shares under the Intellectual Property License Agreement, as more fully explained in the Issuer's Current Report on Form 8-K filed with the Commission on August 31, 2023 (collectively, the "Issuance"). The Issuance is exempt from Section 16(b).
F2 Represents the volume weighted average price ("VWAP") of the Common Stock for the ten trading days immediately preceding June 28, 2024, as provided in the Support Services Agreement.
F3 Represents shares held by Virewirx, Inc. (f/k/a XCom Labs, Inc.) ("XCom"), a corporation controlled by the reporting person.
F4 Represents shares sold by XCom in a private placement to an affiliate of the Thermo Companies, which are controlled by James Monroe, III, the Issuer's Executive Chairman.
F5 Represents the VWAP of the Common Stock for the ten trading days immediately preceding June 28, 2024, which was the price at which XCom acquired the shares pursuant to the Support Services Agreement.