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SEC Form 4

FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number: 3235-0287 Estimated average burden hours per response: 0.5

  

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).

  

Check this box to indicate that a transaction was made pursuant to a contract,
instruction or written plan for the purchase or sale of equity securities of the
issuer that is intended to satisfy the affirmative defense conditions of Rule
10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person*

Monroe James III

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(Last) (First) (Middle)

1735 NINETEENTH STREET

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(Street)

DENVER CO 80202

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(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Globalstar, Inc. [ GSAT ] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X Director X 10% Owner Officer (give title below) Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2024 4. If Amendment, Date of Original Filed (Month/Day/Year)
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. Transaction Date (Month/Day/Year) 2A. Deemed
Execution Date, if any (Month/Day/Year) 3. Transaction 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) Code V Amount (A) or (D) Price Voting Common
Stock 12/16/2024 P 500,000 A $1.9568(1) 7,834,090 I By Thermo Properties II, LLC
Voting Common Stock 197,139,972 I Thermo Funding Company Voting Common Stock
640,750 I By FL Investment Holdings LLC Voting Common Stock 8,708,254 I Thermo
XCOM LLC Voting Common Stock 880,621,127 I Thermo Funding II LLC Voting Common
Stock 3,000,000 I Monroe Irr. Educational Trust Voting Common Stock 200,200 I By
Thermo Investments Limited Partnership Voting Common Stock 618,558 I By
Globalstar Satellite L.P. Voting Common Stock 29,334 I By James Monroe III
Grantor Trust Voting Common Stock 653,668 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities) 1. Title of
Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative
Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any
(Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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 Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct
(D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership
(Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or
Number of Shares

Explanation of Responses: 1. The shares were purchased in multiple transactions
at prices ranging from $1.925 to $1.99 per share. The price reported reflects
the volume weighted average price for the transactions. The reporting person
undertakes to provide upon request by the SEC staff, the issuer or a security
holder of the issuer, full information regarding the number of shares purchased
at each separate price. Remarks:

/s/ Kelly C. Simoneaux, attorney-in-fact for James Monroe III 12/16/2024 **
Signature of Reporting Person Date Reminder: Report on a separate line for each
class of securities beneficially owned directly or indirectly. * If the form is
filed by more than one reporting person, see Instruction 4 (b)(v). **
Intentional misstatements or omissions of facts constitute Federal Criminal
Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of
this Form, one of which must be manually signed. If space is insufficient, see
Instruction 6 for procedure. Persons who respond to the collection of
information contained in this form are not required to respond unless the form
displays a currently valid OMB Number.