Annual Statement of Changes in Beneficial Ownership (5)
April 13 2020 - 2:35PM
Edgar (US Regulatory)
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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Form 3 Holdings Reported
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Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Clary Rebecca | 2. Issuer Name and Ticker or Trading SymbolGlobalstar, Inc. [GSAT] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP & Chief Financial Officer |
(Last)
(First)
(Middle)
1351 HOLIDAY SQUARE BLVD. | 3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY) 12/6/2019 |
(Street)
COVINGTON, LA 70433
(City)
(State)
(Zip)
| 4. If Amendment, Date Original Filed(MM/DD/YYYY) | 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3) | 2. Trans. Date | 2A. Deemed Execution Date, if any | 3. Trans. Code (Instr. 8) | 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) |
Amount | (A) or (D) | Price |
Voting Common Stock (1) | 12/6/2019 | | A | 120000 | A | $0.4559 | 871640 (2) | D | |
Voting Common Stock (3) | 12/9/2019 | | F | 2941 | D | $0.48 | 868699 | D | |
Voting Common Stock (3) | 12/11/2019 | | F | 41161 | D | $0.42 | 827538 | D | |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (MM/DD/YYYY) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
(A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Stock Option (Right to Buy) | $2.58 | | | | | | 12/31/2017 (4) | 12/12/2024 | Voting Common Stock | 40000.0 | | 40000 | D | |
Stock Option (Right to Buy) | $1.97 | | | | | | 12/13/2016 | 12/13/2023 | Voting Common Stock | 40000.0 | | 40000 | D | |
Stock Option (Right to Buy) | $3.99 | | | | | | (5) | 8/27/2024 | Voting Common Stock | 40000.0 | | 40000 | D | |
Stock Option (Right to Buy) | $0.4 | | | | | | 5/1/2014 | 10/3/2021 | Voting Common Stock | 75000.0 | | 75000 | D | |
Stock Option (Right to Buy) | $1.66 | | | | | | 10/12/2014 | 10/12/2020 | Voting Common Stock | 15000.0 | | 15000 | D | |
Stock Option (Right to Buy) | $0.61 | | | | | | 3/15/2012 | 11/8/2021 | Voting Common Stock | 25000.0 | | 25000 | D | |
Explanation of Responses: |
(1) | Award under 2006 Equity Incentive Plan. Award vests as to one-third immediately and one-third on each of December 6, 2020 and 2021. |
(2) | Includes 82,596 shares acquired under the Globalstar Employee Stock Purchase Plan on June 15, 2019 |
(3) | Shares withheld, based on the fair market value of the Common Stock on December 9 and December 11, 2019 to pay required withholding taxes upon the vesting of Restricted Stock Awards under the Company's Bonus and Equity Incentive plans. The full awards were previously reported. |
(4) | Award under 2006 Equity Incentive Plan. Award vests as to one-third on each of December 12, 2015, 2016 and 2017. |
(5) | Award under 2006 Equity Incentive Plan. Award vests as to one-third on each of August 27, 2015, 2016 and 2017. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Clary Rebecca 1351 HOLIDAY SQUARE BLVD. COVINGTON, LA 70433 |
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| VP & Chief Financial Officer |
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Signatures
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/s/ Arthur McMahon, III, attorney-in-fact for Rebecca Clary | | 4/13/2020 |
**Signature of Reporting Person | Date |
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