PAUL E. JACOBS - 25 Sep 2023 Form 4 Insider Report for Globalstar, Inc. (GSAT)

Role
Chief Executive Officer, Director
Signature
Paul E. Jacobs
Issuer symbol
GSAT
Transactions as of
25 Sep 2023
Transactions value $
$0
Form type
4
Filing time
27 Sep 2023, 20:12:27 UTC
Previous filing
31 Aug 2023
Next filing
04 Jan 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GSAT Restricted Stock Units Award $0 +40.4M $0.00 40.4M 25 Sep 2023 Voting Common Stock 40.4M Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Globalstar, Inc. ("Globalstar"). The RSUs vest in tranches upon Globalstar's common stock achieving the following price thresholds based on the 60-day weighted average closing price per share (the "Price"): (i) 1,500,000 will vest when the Price is $2.00; (ii) 2,800,000 will vest when the Price is $2.50; (iii) 8,333,333 will vest when the Price is $3.00; (iv) 2,857,143 will vest when the Price is $3.50; (v) 6,250,000 will vest when the Price is $4.00; (vi) 2,222,222 will vest when the Price is $4.50; (vii) 10,000,000 will vest when the Price is $5.00; (viii) 1,666,667 will vest when the Price is $6.00; (ix) 1,428,571 will vest when the Price is $7.00; (x) 1,250,000 will vest when the Price is $8.00; (xi) 1,111,111 will vest when the Price is $9.00; and (xii) 1,000,000 will vest when the Price is $10.00.