SEC Form 4 · accession 0001366868-18-000010
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 27, 2018
Accepted (ET)
Mar 1, 2018 · 9:14 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 | Feb 27, 2018 | A | 26,455 | $0.00 | A | 867,154 | D | |
| Voting Common StockF2 | Feb 27, 2018 | F | 9,180 | $0.945 | D | 857,974 | 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 | $1.36 | holding | — | — | — | — | Dec 6, 2027 | Voting Common Stock | 750,000 | 750,000 | D |
Explanation of responses
- F1Award under the Company's 2017 Key Employee Bonus Plan.
- F2Shares withheld, based on the fair market value of the Common Stock on February 27, 2018, to pay required withholding taxes upon the vesting of shares pursuant to an award under the Company's 2017 Key Employee Bonus Plan.
- F3Award 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.