Globalstar (GSAT) counsel sells small stake in tax-related share sale

Rhea-AI Filing Summary

Globalstar, Inc. General Counsel Ponder L. Barbee IV reported an open-market sale of 492 shares of Voting Common Stock at $55.3812 per share. According to the notes, this was a mandatory sell-to-cover transaction to pay taxes due on the partial vesting of a restricted stock award granted on 3/7/2025, rather than a discretionary sale. After the sale, he directly holds 142,635 shares of Globalstar stock. The reported total holdings were also adjusted to correct prior record-keeping errors related to earlier tax-cover sales between 2019 and 2021.

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

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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^*

Ponder L Barbee IV

(Last) (First) (Middle)

1351 HOLIDAY SQUARE BLVD.

(Street)

COVINGTON LA 70433

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		S		492(1)	D	$55.3812	142,635(2)	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. Shares sold in accordance with a mandatory sell-to-cover program maintained by the registrant to cover taxes due upon the partial vesting of a restricted stock award granted 3/7/2025.

2. Total has been adjusted to account for record keeping errors that occurred resulting in an incorrect number of shares reported as sold to cover taxes on one or more equity award vestings during the period between 2019 and 2021

Remarks:

	Kelly C. Simoneaux, attorney-in-fact for L. Barbee Ponder IV	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Globalstar (GSAT) report for Ponder L. Barbee IV?

Globalstar’s General Counsel Ponder L. Barbee IV reported selling 492 shares of Voting Common Stock at $55.3812 per share. The filing describes this as a mandatory sell-to-cover transaction tied to tax obligations on a restricted stock award vesting.

Why did Globalstar (GSAT) General Counsel sell 492 shares in this Form 4?

The 492 shares were sold under a mandatory sell-to-cover program to pay taxes owed when part of a restricted stock award granted on 3/7/2025 vested. This indicates a tax-related, mechanistic sale rather than a discretionary trading decision.

How many Globalstar (GSAT) shares does Ponder L. Barbee IV hold after the reported sale?

Following the sale, Ponder L. Barbee IV directly holds 142,635 shares of Globalstar Voting Common Stock. This shows the transaction involved only a small fraction of his reported holdings, with the vast majority of his position remaining intact after the event.

Was the Globalstar (GSAT) insider sale part of a compensation-related event?

Yes. The filing states the sale occurred to cover taxes due upon the partial vesting of a restricted stock award granted on 3/7/2025. Such sell-to-cover transactions are typically tied to equity compensation rather than active portfolio trading decisions.

Did the Globalstar (GSAT) Form 4 mention any corrections to past share records?

Yes. A footnote explains that the reported total holdings were adjusted to fix record-keeping errors that caused incorrect share counts for prior tax-cover sales on equity award vestings during 2019–2021, bringing the tally into alignment with actual transactions.

Is the Globalstar (GSAT) General Counsel’s sale likely a strong bearish signal?

The filing frames the 492-share sale as a mandatory sell-to-cover to pay taxes on restricted stock vesting. Such tax-driven sales, especially when small relative to total holdings, are generally viewed as routine administrative events rather than strong directional market signals.