Globalstar, Inc. — Director's Dealing 2018

Sep 6, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Globalstar, Inc. (GSAT)
CIK: 0001366868
Period of Report: 2018-09-04

Reporting Person: Kagan David B. (Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-09-04	Voting Common Stock	A	750000	—	Acquired	1607974	Direct
2018-09-04	Voting Common Stock	A	250000	—	Acquired	1857974	Direct
2018-09-04	Voting Common Stock	A	500000	—	Acquired	2357974	Direct
2018-09-04	Voting Common Stock	A	1500000	—	Acquired	3857974	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-09-04	Stock Option (Right to Buy)	$1.36	D	750000	Disposed	2027-12-06	Voting Common Stock (750000.0)	Direct
2018-09-04	Stock Option (Right to Buy)	$1.21	D	250000	Disposed	2026-01-13	Voting Common Stock (250000.0)	Direct

Footnotes

F1: The reporting person agreed to cancellation of an option granted to him on December 6, 2017, in exchange for 750,000 restricted shares of the Issuer's Voting Common Stock.

F2: The reporting person agreed to cancellation of an option granted to him on January 13, 2016, in exchange for 250,000 restricted shares of the Issuer's Voting Common Stock.

F3: Award under 2006 Equity Incentive Plan. Award vests as to 10% after year 1, 15% after year 2 (25% cumulative), 25% after year 3 (50% cumulative) and the remaining 50% after year 4, or upon a change of control.

F4: Award of restricted stock which will vest on the following terms: (i) 750,000 shares will vest when the Company attains $75 million Core Satellite Company EBITDA (as defined in the grant documents) and (ii) 750,000 shares will vest when the Company attains $100 million Core Satellite Company EBITDA.