Globalstar, Inc. — Director's Dealing 2009

Dec 23, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Globalstar, Inc. (GSAT)
CIK: 0001366868
Period of Report: 2009-12-18

Reporting Person: Monroe James III (Director, 10% Owner)
Reporting Person: Globalstar Holdings, LLC (10% Owner)
Reporting Person: Thermo Funding CO LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-18	Voting Common Stock	C	109424034	$1.428	Acquired	146055497	Indirect
2009-12-18	Nonvoting Common Stock	C	16750000	$1.428	Acquired	16750000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-12-18	Series A Convertible Preferred Stock	$1.428	C	1	Disposed		Common Stock (126174034)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Voting Common Stock	515000	Indirect
Voting Common Stock	38640750	Indirect
Voting Common Stock	618558	Indirect

Footnotes

F1: Shares of Nonvoting Common Stock are convertible into shares of Voting Common Stock so long as the conversion would not cause Thermo Funding Company LLC and its affiliates to own more than 70% of the voting power of the Issuer.

F2: The Series A Convertible Preferred Stock has no expiration date.

F3: The Series A Preferred Stock is convertible into Voting Common Stock or Nonvoting Common Stock. See also footnote 1.