Form 4: Globalstar CEO Paul Jacobs Sells Shares in Private Transaction

Globalstar's CEO, Paul Jacobs, reports the sale of shares held indirectly through Virewirx, Inc. in a private transaction to an affiliate of the Thermo Companies.

Summary

• Paul E. Jacobs, CEO of Globalstar, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On March 28, 2025, shares were sold by Virewirx, Inc. (formerly XCom Labs, Inc.) in a private transaction.
• The shares were sold to an affiliate of the Thermo Companies, controlled by James Monroe, III, Globalstar's Executive Chairman.
• 209,546 shares of voting common stock were disposed of at a price of $22.52 per share.
• Following the transaction, Jacobs indirectly owns 0 shares through Virewirx, Inc., 1,116,400 shares through a trust, and directly owns 12,374 shares.
• The shares sold were initially acquired by XCom as consideration under a Support Services Agreement and related Intellectual Property License Agreement.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it's a standard disclosure of insider trading activity. The transaction itself doesn't inherently indicate positive or negative sentiment, but the relationship between the parties involved warrants attention.

Industry Context

Form 4 filings are standard disclosures for corporate insiders, providing transparency into their trading activities. This particular transaction involves a private sale to an entity related to the company's Executive Chairman, which may draw additional scrutiny from investors.

Related Party Transactions

• The sale of shares by Virewirx, Inc. to an affiliate of the Thermo Companies, which are controlled by James Monroe, III, the Issuer's Executive Chairman, constitutes a related party transaction.

Stakeholder Impact

• The sale of shares by a company insider could be perceived negatively by shareholders if they interpret it as a lack of confidence in the company's future prospects, although this is a relatively small percentage of the overall shares owned by the CEO.

Key Dates

Keywords

Globalstar, Paul Jacobs, Form 4, Beneficial Ownership, Share Sale, Virewirx, XCom Labs, Thermo Companies, James Monroe III, Private Transaction