Form 4 for GSAT Globalstar, Inc.

Accepted 2024-07-01 00:00:00 ET · period of report 2024-06-28 · accession 0001366868-24-000090 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
I	2024-07-01	2024-06-28	GSAT	JACOBS PAUL E	CEO, Dir	J - Other	$1.06	+7.65M	7.65M	+765,403,600%	+$8.11M
I	2024-07-01	2024-06-28	GSAT	JACOBS PAUL E	CEO, Dir	S - Sale	$1.06	-4.51M	3.14M	-59%	-$4.78M

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Voting Common Stock	2024-06-28	J	A	7,654,036	$1.06	7,654,037	I By Virewirx, Inc. (f/k/a XCOM Labs, Inc.)	—	—	(F1) Represents (i) 7,048,210 shares acquired as fees payable under the Support Services Agreement and (ii) 605,826 shares acquired as Holdback Shares under the Intellectual Property License Agreement, as more fully explained in the Issuer's Current Report on Form 8-K filed with the Commission on August 31, 2023 (collectively, the "Issuance"). The Issuance is exempt from Section 16(b). (F2) Represents the volume weighted average price ("VWAP") of the Common Stock for the ten trading days immediately preceding June 28, 2024, as provided in the Support Services Agreement. (F3) Represents shares held by Virewirx, Inc. (f/k/a XCom Labs, Inc.) ("XCom"), a corporation controlled by the reporting person.
2	Common	Voting Common Stock	2024-06-28	S	D	4,510,855	$1.06	3,143,182	I By Virewirx, Inc. (f/k/a XCOM Labs, Inc.)	—	—	(F4) Represents shares sold by XCom in a private placement to an affiliate of the Thermo Companies, which are controlled by James Monroe, III, the Issuer's Executive Chairman. (F5) Represents the VWAP of the Common Stock for the ten trading days immediately preceding June 28, 2024, which was the price at which XCom acquired the shares pursuant to the Support Services Agreement.