Globalstar, Inc. — Director's Dealing 2012

Feb 15, 2012

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: Globalstar, Inc. (GSAT)
CIK: 0001366868
Period of Report: 2011-12-31

Reporting Person: Monroe James III (Director, Chief Executive Officer, 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
2011-08-25	Voting Common Stock	P	50000	$0.81	Acquired	1460346	Indirect
2011-11-03	Nonvoting Common Stock	J	11376404	$0.47	Acquired	30652154	Indirect
2011-11-30	Nonvoting Common Stock	J	25229358	$0.35	Acquired	55881512	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-14	Common Stock Warrant (Right to Buy)	$1.25	P	8000000	Acquired	2016-06-14	Voting Common Stock (8000000)	Indirect
2011-06-19	Common Stock Warrants (Right to Buy)	$0.01	J	5000000	Acquired	2016-06-19	Voting Common Stock (5000000)	Indirect
2011-09-30	Common Stock Warrant (Right to Buy)	$0.52	J	3920768	Acquired	2014-06-19	Voting Common Stock (3920768)	Indirect
2011-12-30	Common Stock Warrants (Right to Buy)	$0.49	J	695129	Acquired	2014-06-19	Voting Common Stock (695129)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Voting Common Stock	146465355	Indirect
Voting Common Stock	38640750	Indirect
Voting Common Stock	618558	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Warrant (Right to Buy)	$0.01	2014-06-19	Voting Common Stock (4205608)	4205608	Indirect
Stock Option (Right to Buy)	$0.38	2018-11-14	Voting Common Stock (200000)	200000	Direct

Footnotes

F1: Nonvoting Common Stock issued upon draw from contingent equity account pursuant to the Contingent Equity Agreement dated June 19, 2009.

F2: Warrants issued in connection with the purchase of $20 million principal amount of the Company's 5% Convertible Senior Unsecured Notes.

F3: Warrants issued for annual loan fee under the Contingent Equity Agreement dated June 19, 2009.

F4: Warrants issued under anti-dilution provision of warrants issued in connection with the Company's 8% Convertible Senior Unsecured Notes.