AI assistant
Globalstar, Inc. — Director's Dealing 2022
Feb 15, 2022
31104_dirs_2022-02-14_58f1e9ef-2e79-4bb3-af2b-d12e2c9fd792.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 5 — Annual Statement of Changes in Beneficial Ownership
Issuer: Globalstar, Inc. (GSAT)
CIK: 0001366868
Period of Report: 2021-12-31
Reporting Person: Monroe James III (Director, 10% Owner)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2021-03-29 | Voting Common Stock | X | 50037578 | $0.38 | Acquired | 875540711 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-03-29 | Common Stock Warrant (Right to Buy) | $0.38 | X | 50037578 | Disposed | 2021-03-31 | Voting Common Stock (50037578.0) | Indirect |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Voting Common Stock | 545364 | Direct |
| Voting Common Stock | 640750 | Indirect |
| Voting Common Stock | 618558 | Indirect |
| Voting Common Stock | 197139972 | Indirect |
| Voting Common Stock | 3000000 | Indirect |
Footnotes
F1: On March 29, 2021, Thermo Funding II LLC ("Thermo") exercised warrants to purchase 50,037,578 shares of the Company's Voting Common Stock at an exercise price of $0.38 per share. These warrants were a portion of the warrants to purchase 59,537,578 shares of the Company's Voting Common Stock issued to Thermo in connection with the Second Lien Term Loan Facility the Company entered into with Thermo and certain other lenders on November 26, 2019. The Second Lien Loan Term Loan Facility and certain related transactions are described more fully in the Company's Current Report on Form 8-K filed with the Commission on November 27, 2019. This exercise was previously disclosed in the Company's Preliminary Proxy on Schedule 14A, filed with the Commission on March 31, 2021, the Company's Definitive Proxy on Schedule 14A, filed with the Commission on April 12, 2021, and the Company's Quarterly Report on Form 10-Q, filed with the Commission on May 6, 2021.
F2: Mr. Monroe established a multigenerational educational trust, the Monroe Irr. Educational Trust (the "Trust"). Thermo Funding Company transferred 3,000,000 shares of Voting Common Stock of the Company (the "Shares") to the Trust. Mr. Monroe remains the beneficial owner of the Shares.