SEC Form 4 · accession 0001366868-17-000109
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
Dec 11, 2017
Accepted (ET)
Dec 13, 2017 · 9:43 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 StockF1 | Dec 11, 2017 | F | 3,151 | $1.21 | D | 843,849 | D | |
| Voting Common StockF1 | Dec 11, 2017 | F | 3,150 | $1.21 | D | 840,699 | 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)F2 | $1.36 | holding | — | — | — | — | Dec 6, 2027 | Voting Common Stock | 750,000 | 750,000 | D |
Explanation of responses
- F1Shares withheld, based on the fair market value of the Common Stock on December 11, 2017 to pay required withholding taxes upon the vesting of a Restricted Stock Award under the Company's Equity Incentive Plan. The full award was previously reported.
- F2Award 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.