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GSAT Globalstar Inc

1.30
0.00 (0.00%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Globalstar Inc AMEX:GSAT AMEX Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.30 1.3203 1.28 1.32 1,724,441 01:00:00

Annual Statement of Changes in Beneficial Ownership (5)

13/04/2020 7:33pm

Edgar (US Regulatory)


FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  
OMB APPROVAL
OMB Number: 3235-0362
Estimated average burden
hours per response...
1.0                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Ponder L Barbee IV
2. Issuer Name and Ticker or Trading Symbol

Globalstar, Inc. [GSAT]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
General Counsel
(Last)          (First)          (Middle)

1351 HOLIDAY SQUARE BLVD.
3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2019 
(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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date2A. Deemed Execution Date, if any3. 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  A5 120000 A$0.4559 625649 D  
Voting Common Stock (2)12/9/2019  F5 2941 D$0.48 622708 D  
Voting Common Stock (2)12/11/2019  F5 41161 D$0.42 581547 D  

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (Right to Buy) $1.97          (3)12/13/2023 Voting Common Stock 40000.0  40000 D  
Stock Option (Right to Buy) $2.58          (3)12/12/2024 Voting Common Stock 40000.0  40000 D  
Stock Option (Right to Buy) $1.64         7/13/2013 7/13/2020 Voting Common Stock 50000.0  50000 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) 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.
(3) Options are exercisable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Ponder L Barbee IV
1351 HOLIDAY SQUARE BLVD.
COVINGTON, LA 70433


General Counsel

Signatures
/s/ Arthur McMahon, III, attorney-in-fact for L. Barbee Ponder IV4/13/2020
**Signature of Reporting PersonDate

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