Globalstar Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 16. Form 10-K Summary
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| GLOBALSTAR, INC. | |||
| By: | /s/ Dr. Paul E. Jacobs | ||
| Date: | February 29, 2024 | Dr. Paul E. Jacobs | |
|---|---|---|---|
| Chief Executive Officer | |||
POWER OF ATTORNEY
KNOW BY ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Dr. Paul E. Jacobs and Rebecca S. Clary, jointly and severally, his or her attorney-in-fact, with the power of substitution, for him or her in any and all capacities, to sign any amendments to this Annual Report on Form 10-K and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated as of February 29, 2024.
| Signature | Title |
| /s/ Dr. Paul E. Jacobs | Chief Executive Officer |
| Dr. Paul E. Jacobs | (Principal Executive Officer) |
| /s/ Rebecca S. Clary | Chief Financial Officer |
| Rebecca S. Clary | (Principal Financial and Accounting Officer) |
| /s/ James Monroe III | |
| James Monroe III | Director |
| /s/ William A. Hasler | |
| William A. Hasler | Director |
| /s/ James F. Lynch | |
| James F. Lynch | Director |
| /s/ Michael J. Lovett | |
| Michael J. Lovett | Director |
| /s/ Keith O. Cowan | |
| Keith O. Cowan | Director |
| /s/ Benjamin G. Wolff | |
| Benjamin G. Wolff | Director |
| /s/ Timothy E. Taylor | |
| Timothy E. Taylor | Director |
EXHIBIT INDEX
| Exhibit Number | Description |
| 3.1* | Third Amended and Restated Certificate of Incorporation of Globalstar, Inc. (Appendix A to DEF 14A filed April 12, 2021) |
| 3.2* | Fifth Amended and Restated Bylaws of Globalstar, Inc. (Exhibit 3.1 to Form 8-K filed on August 31, 2023) |
| 3.3* | Certificate of Designation filed November 15, 2022 (Exhibit 3.1 to Form 8-K filed on November 16, 2022) |
| 4.1 | Description of Registrant's Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 |
| 10.1* | Settlement Agreement dated December 14, 2018 (Exhibit 10.1 to form 8-K filed December 17, 2018) |
| 10.2* | Lease Agreement by and between Globalstar, Inc. and Thermo Covington, LLC dated February 1, 2019 (Exhibit 10.1 to Form 10-Q filed May 2, 2019) |
| 10.3* | Form of Indemnification Agreement between Globalstar, Inc. and its Directors dated February 26, 2019 (Exhibit 10.50 to Form 10-K filed February 28, 2019) |
| 10.4* | Third Amended and Restated Globalstar, Inc. 2006 Equity Incentive Plan (Appendix A to Definitive Proxy Statement filed April 16, 2019) |
|---|---|
| 10.5* | Amended and Restated Employee Stock Purchase Plan (Appendix B to Definitive Proxy Statement filed April 16, 2019) |
| 10.6* | Form of Restricted Stock Units Agreement for Non-U.S. Designated Executives under the Globalstar, Inc. 2006 Equity Incentive Plan (Exhibit 10.2 to Form 10-Q filed August 14, 2007) |
| 10.7* | Form of Notice of Grant and Restricted Stock Agreement under the Globalstar, Inc. 2006 Equity Incentive Plan (Exhibit 10.29 to Form 10-K filed March 17, 2008) |
| 10.8* | Form of Non-Qualified Stock Option Award Agreement for Members of the Board of Directors under the Globalstar, Inc. 2006 Equity Incentive Plan (Exhibit 10.1 to Form 8-K filed November 20, 2008) |
| 10.9* | Form of Stock Option Award Agreement for use with executive officers (Exhibit 10.45 to Form 10-K filed March 31, 2011) |
| 10.12*†† | 2023 Key Employee Bonus Plan (Exhibit 10.5 to Form 10-Q filed May 5, 2023) |
| 10.13*†† | Amended and Restated Prepayment Agreement dated May 19, 2021 (Exhibit 10.1 to Form 10-Q filed August 5, 2021) |
| 10.14*†† | Satellite Procurement Agreement dated February 21, 2022 between Globalstar, Inc. and Macdonald, Dettwiler and Associates Corporation (Exhibit 10.1 to Form 10-Q filed May 5, 2022) |
| 10.15*†† | Conformed Copy of Key Terms Agreement reflecting amendments through September 7, 2022 (Exhibit 10.1 to Form 8-K filed September 7, 2022) |
| 10.16*†† | Exchange Agreement dated November 15, 2022 (Exhibit 10.1 to Form 8-K filed November 16, 2022) |
| 10.17* | Purchase Agreement, dated March 28, 2023, by and among Globalstar, Inc., the Subsidiary Guarantors party thereto and the Purchasers party thereto (Exhibit 10.1 to Form 8-K filed March 29, 2023) |
| 10.18* | Indenture (including form of Note) dated March 31, 2023, by and among Globalstar, Inc., the Subsidiary Guarantors party thereto and Wilmington Trust, National Association (Exhibit 10.1 to Form 8-K filed April 6, 2023) |
| 10.19*†† | Collateral Agreement dated April 6, 2023 by and among Globalstar, Inc. the grantors and guarantors party thereto and Partner (Exhibit 10.2 to Form 8-K filed April 6, 2023) |
| 10.20*†† | Prepayment Agreement (Exhibit 10.6 to Form 10-Q filed May 5, 2023) |
| 10.21*†† | Amendment No. 4 to the Key Terms Agreement (Exhibit 10.7 to Form 10-Q filed May 5, 2023) |
| 10.22*†† | Intellectual Property License Agreement between XCOM Labs, Inc. and Globalstar, Inc. dated August 29, 2023 (Exhibit 10.37 to Form S-1 filed September 8, 2023) |
| 10.23*†† | Support Services Agreement by and between XCOM Labs, Inc. and Globalstar, Inc. dated August 29, 2023 (Exhibit 10.38 to Form S-1 filed September 8, 2023) |
| 10.24†† | Amended and Restated Employment Agreement dated January 24, 2024 by and between Globalstar, Inc. and Paul Jacobs |
| 10.25†† | Guaranty dated as of December 7, 2023 made by Thermo Funding II, LLC |
| 10.26 | Common Stock Purchase Warrant between Thermo Funding II, LLC and Globalstar, Inc. dated December 7, 2023 |
| 10.27*†† | Second Forbearance Agreement among Globalstar, Inc., Macdonald, Dettwiler and Associates Corporation and Rocket Lab USA, Inc. dated January 31, 2023 (Exhibit 10.30 to Form 10-K filed March 1 2023) |
| 19.1 | Globalstar, Inc. Insider Trading Policy |
| 21.1 | Subsidiaries of Globalstar, Inc. |
| 23.1 | Consent of Ernst & Young LLP |
| 24.1 | Power of Attorney (included as part of page titled "Signatures") |
| 31.1 | Section 302 Certification of Principal Executive Officer of Globalstar, Inc. |
| 31.2 | Section 302 Certification of Principal Financial Officer of Globalstar, Inc. |
| 32.1 | Section 906 Certification of Principal Executive Officer of Globalstar, Inc. |
| 32.2 | Section 906 Certification of Principal Financial Officer of Globalstar, Inc. |
| 97.1 | Globalstar, Inc. Executive Compensation Clawback Policy |
| 101.INS | XBRL Instance Document |
| 101.SCH | XBRL Taxonomy Extension Schema Document |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document |
| * | Incorporated by reference. |
| † | Portions of the exhibit have been omitted pursuant to a request for confidential treatment filed with the Commission. The omitted portions have been filed with the Commission. |
| †† | Portions of the exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K. |
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