{"schema_version":"secwatch.filing_event.v1","accession":"0001366868-23-000115","form_type":"8-K","ticker":"GSAT","cik":"0001366868","company_name":"Globalstar, Inc.","filed_at":"2023-08-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.710966+00:00","generated_at":"2026-06-11T01:05:07.794727+00:00","sec_items":["1.01","5.02","3.02","5.03","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Globalstar acquires exclusive XCOM wireless IP license for ~60.6M shares; appoints Dr. Paul Jacobs as CEO","bullets":["Issued 60,582,615 shares (~$68.7M based on 20-day VWAP) for perpetual, royalty-free license to XCOM's wireless spectrum technologies.","Dr. Paul Jacobs appointed CEO effective August 29, 2023; base salary $500k, target bonus 100%, and 40.42M performance RSUs vesting on stock price targets of $2-$10.","Board expanded from 7 to 9 directors; Dr. Jacobs also joins the board.","Approximately 36.3M shares resold to long-term investors, including Thermo (~4.2M shares) and a Jacobs trust (~16.7M shares).","XCOM employees helping commercialize technology; support services agreement provides ongoing R&D services."],"urls":{"canonical":"https://secwatch.observer/filing/0001366868-23-000115","json":"https://secwatch.observer/filing/0001366868-23-000115.json","markdown":"https://secwatch.observer/filing/0001366868-23-000115.md","text":"https://secwatch.observer/filing/0001366868-23-000115.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/gsat-20230829.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T01:05:07.794727+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1b0b71c6c8","claim":"David Kagan departed as other at Globalstar, Inc..","evidence_excerpt":"On August 29, 2023, the Company announced the retirement and resignation of David Kagan and the appointment of Dr. Paul Jacobs as Chief Executive Officer effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.85,"family_label":"Executive change","details":[{"label":"Action","value":"retired and resigned"}],"fact_type":"executive_change"},{"claim_id":"3c798f7361","claim":"Paul Jacobs was appointed as Chief Executive Officer at Globalstar, Inc..","evidence_excerpt":"On August 29, 2023, the Company announced the retirement and resignation of David Kagan and the appointment of Dr. Paul Jacobs as Chief Executive Officer effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"caa363aa36","claim":"Paul Jacobs was appointed as Director at Globalstar, Inc..","evidence_excerpt":"On the Effective Date, the Company also announced that the Board of Directors has appointed Dr. Jacobs to serve as a director effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"588de6073fa7e6b6a08f1ca570360f64a87253e4","claim":"Globalstar, Inc.: Increased the number of directors on the Board from seven to nine.","evidence_excerpt":"the Board of Directors approved the Fifth Amended and Restated Bylaws (the “Bylaws”), which increased the number of directors on the Board of Directors from seven (7) to nine (9).","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"}],"fact_type":"governance_change"},{"claim_id":"159667478ab4e84bf75768fef9ee81834c9d716e","claim":"Globalstar, Inc. entered into Intellectual Property License Agreement with XCOM Labs, Inc. valued at 60,582,615 shares of its common stock, par value $0.0001 per share (effective 2023-08-29).","evidence_excerpt":"On August 29, 2023 (the “Effective Date”), Globalstar, Inc. (the “Company” or “Globalstar”) entered into an Intellectual Property License Agreement (the “License Agreement”) between the Company and XCOM Labs, Inc. (“Licensor” or “XCOM”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"license"},{"label":"Counterparty","value":"XCOM Labs, Inc."},{"label":"Value","value":"60,582,615 shares of its common stock, par value $0.0001 per share"},{"label":"Effective","value":"2023-08-29"}],"fact_type":"material_agreement"},{"claim_id":"523d0ebb7fdfdcace3781e054bc67de5b4cd75e4","claim":"Globalstar, Inc. entered into Support Services Agreement with XCOM Labs, Inc. (effective 2023-08-29).","evidence_excerpt":"In connection with the License Agreement, on the Effective Date, the Company also entered into a Support Services Agreement (the “Services Agreement”) by and between the Company and Licensor.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"license"},{"label":"Counterparty","value":"XCOM Labs, Inc."},{"label":"Effective","value":"2023-08-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}