JACOBS PAUL E 4

What Happened

• Paul E. Jacobs, CEO of Globalstar, exercised stock options to acquire a total of 6,666 shares on 2026-03-19 — 4,444 shares at $28.05 (cost $124,654) and 2,222 shares at $32.85 (cost $72,993), for total cash paid of $197,647. The filing also reports the corresponding cancellation/disposition of the derivative option instruments.
• On the same day he sold 714 shares in open-market transactions (713 shares at $59.56 for $42,466 and 1 share at $59.58 for $60) to cover taxes under a mandatory sell-to-cover program related to a restricted stock award.

Key Details

• Transaction date: 2026-03-19; Form 4 filed 2026-03-19 (timely).
• Option exercises: 4,444 shares @ $28.05 and 2,222 shares @ $32.85 (total paid $197,647).
• Market sales: 713 shares @ $59.56 ($42,466) and 1 share @ $59.58 ($60); sales were to cover taxes per registrant program (Footnote F2).
• Footnote F1: share/strike numbers were adjusted for the issuer’s 1-for-15 reverse split (Feb 10, 2025).
• Shares owned after the transactions: not specified in the summary provided — see the full Form 4 for updated holdings.

Context

• These were option exercises (derivative code M). The Form 4 shows both the acquisition of shares upon exercise and the cancellation/disposition of the related option instruments (reported at $0.00 for the derivative disposition).
• The small open-market sales were routine sell-to-cover actions to satisfy tax withholding on a restricted stock vesting, not necessarily a discretionary sale signaling broader intent.
• Exercises represent the CEO converting previously granted options into shares (requires cash to exercise); purchases/exercises are often considered more informative than routine tax-related sales, but filings are factual and do not imply motive.