Globalstar, Inc. — Director's Dealing 2011

Feb 15, 2011

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: Globalstar, Inc. (GSAT)
CIK: 0001366868
Period of Report: 2010-12-31

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-06-19	Common Stock Warrants (right to buy)	$0.01	A	4379562	Acquired	2014-12-31	Voting Common Stock (4379562)	Indirect

Footnotes

F1: Thermo Funding Company and its affiilates may not own more than 70% of the Issuer's voting common stock. Nonvoting common stock may be issued to prevent any exercise from exceeding the 70% limit.

F2: Warrants issued in payment of $6 million loan fee under Contingent Equity Agreement.