---
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"
generated_at: "2026-06-11T01:05:07.794727+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Globalstar acquires exclusive XCOM wireless IP license for ~60.6M shares; appoints Dr. Paul Jacobs as CEO

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 3.02, 5.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-23-000115
- JSON: https://secwatch.observer/filing/0001366868-23-000115.json
- Plain text: https://secwatch.observer/filing/0001366868-23-000115.txt

## Key facts
- Executive change
  David Kagan departed as other at Globalstar, Inc..
  - Action: retired and resigned
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm
- Executive change
  Paul Jacobs was appointed as Chief Executive Officer at Globalstar, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm
- Executive change
  Paul Jacobs was appointed as Director at Globalstar, Inc..
  - Action: appointed
  - Role: Director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm
- Governance Changes
  Globalstar, Inc.: Increased the number of directors on the Board from seven to nine.
  - Change: bylaw amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: license
  - Counterparty: XCOM Labs, Inc.
  - Value: 60,582,615 shares of its common stock, par value $0.0001 per share
  - Effective: 2023-08-29
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm
- Material Agreements
  Globalstar, Inc. entered into Support Services Agreement with XCOM Labs, Inc. (effective 2023-08-29).
  - Action: entry
  - Agreement: license
  - Counterparty: XCOM Labs, Inc.
  - Effective: 2023-08-29
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686823000115/0001366868-23-000115-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.