SEC Form 4 · accession 0001366868-17-000027
Globalstar, Inc. · GSAT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David B. Kagan
Officer — President & COO
Period of report
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 9:36 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001366868
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Voting Common Stock | Feb 28, 2017 | A | 52,190 | $0.00 | A | 146,040 | D | |
| Voting Common Stock | Feb 28, 2017 | F | 18,567 | $1.37 | D | 127,473 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy) | $1.21 | holding | — | — | — | Jan 13, 2017 | Jan 13, 2026 | Voting Common Stock | 250,000 | 250,000 | D |
| Stock Option (Right to Buy)F3 | $1.21 | holding | — | — | — | — | Jan 13, 2026 | Voting Common Stock | 50,000 | 50,000 | D |
Explanation of responses
- F1Award under the Company's 2016 Key Employee Bonus Plan.
- F2Shares withheld, based on the fair market value of the Common Stock on February 28, 2017, to pay required withholding taxes upon the vesting of shares pursuant to an award under the Company's 2016 Key Employee Bonus Plan.
- F3Award under 2006 Equity Incentive Plan. Award vests as to one-third on each of January 13, 2017, 2018 and 2019.