Globalstar (GSAT) CEO exercises 6,666 options and sells 714 shares for taxes
Rhea-AI Filing Summary
Globalstar, Inc. Chief Executive Officer Paul E. Jacobs reported multiple equity transactions in Globalstar (GSAT). He exercised stock options to acquire 6,666 shares of Voting Common Stock, including 4,444 shares at an exercise price of $28.05 and 2,222 shares at $32.85. On the same date, he sold a total of 714 shares of Voting Common Stock at prices around $59.56–$59.58, which a footnote states were sold under a mandatory sell-to-cover program to pay additional taxes due on the vesting of a restricted stock award granted on March 10, 2026. After these transactions, Jacobs directly holds 67,032 shares of Voting Common Stock and indirectly holds 1,116,400 shares through a trust. A footnote also notes that the number of stock option shares and exercise prices have been adjusted to reflect a 1-for-15 reverse stock split effective on February 10, 2025.
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Insights
CEO exercised options and sold a small portion of shares to cover taxes.
Paul E. Jacobs, CEO of Globalstar, exercised options for 6,666 shares of Voting Common Stock at exercise prices of $28.05 and $32.85. These M-code transactions convert derivative awards into outright share ownership, a common step in executive equity compensation.
He also sold 714 shares at roughly $59.56–$59.58 per share. A footnote explains these were part of a mandatory sell-to-cover program to pay taxes on a restricted stock award vesting, which indicates the sales are largely mechanical rather than discretionary portfolio changes.
Following these moves, Jacobs directly owns 67,032 shares and indirectly holds 1,116,400 shares through a trust, so the tax-related sale is small relative to his overall exposure. The filing also records that option quantities and exercise prices were adjusted for a 1-for-15 reverse split effective on February 10, 2025, anchoring the reported figures to the post-split capital structure.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 4,444 | $0.00 | -- |
| Exercise | Stock Option (Right to Buy) | 2,222 | $0.00 | -- |
| Exercise | Voting Common Stock | 4,444 | $28.05 | $125K |
| Exercise | Voting Common Stock | 2,222 | $32.85 | $73K |
| Sale | Voting Common Stock | 1 | $59.5816 | $59.58 |
| Sale | Voting Common Stock | 713 | $59.56 | $42K |
| holding | Voting Common Stock | -- | -- | -- |
Footnotes (1)
- The number of shares of stock options and exercise prices reported in this Form 4 have been adjusted to reflect the Issuer's 1 for 15 reverse stock split effected on February 10, 2025. Shares sold in accordance with a mandatory sell-to-cover program maintained by the registrant to cover additional taxes due upon the vesting of a restricted stock award granted 3/10/2026.
