Sec Form 5 Filing - Monroe James III @ Globalstar, Inc. - 2021-12-31

FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Monroe James III 2. Issuer Name and Ticker or Trading Symbol Globalstar, Inc. [ GSAT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1735 NINETEENTH STREET 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2021 (Street) DENVER, CO80202 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Voting Common Stock 03/29/2021 X V 50,037,578( 1 ) A $ 0.38 875,540,711 I Thermo Funding II LLC Voting Common Stock 545,364 D Voting Common Stock 640,750 I By FL Investment Holdings LLC Voting Common Stock 618,558 I By Globalstar Satellite L.P. Voting Common Stock 197,139,972( 2 ) I Thermo Funding Company Voting Common Stock 3,000,000( 2 ) I Monroe Irr. Educational Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Common Stock Warrant (Right to Buy) $ 0.38 03/29/2021 X V 50,037,578( 1 ) 11/27/2019 03/31/2021 Voting Common Stock 50,037,578 $ 0.38 0 I Thermo Funding II LLC

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Monroe James III 1735 NINETEENTH STREET DENVER, CO80202 X X Signatures /s/ Arthur McMahon, III, attorney-in-fact for James Monroe III 02/14/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On March 29, 2021, Thermo Funding II LLC ("Thermo") exercised warrants to purchase 50,037,578 shares of the Company's Voting Common Stock at an exercise price of $0.38 per share. These warrants were a portion of the warrants to purchase 59,537,578 shares of the Company's Voting Common Stock issued to Thermo in connection with the Second Lien Term Loan Facility the Company entered into with Thermo and certain other lenders on November 26, 2019. The Second Lien Loan Term Loan Facility and certain related transactions are described more fully in the Company's Current Report on Form 8-K filed with the Commission on November 27, 2019. This exercise was previously disclosed in the Company's Preliminary Proxy on Schedule 14A, filed with the Commission on March 31, 2021, the Company's Definitive Proxy on Schedule 14A, filed with the Commission on April 12, 2021, and the Company's Quarterly Report on Form 10-Q, filed with the Commission on May 6, 2021. ( 2 )Mr. Monroe established a multigenerational educational trust, the Monroe Irr. Educational Trust (the "Trust"). Thermo Funding Company transferred 3,000,000 shares of Voting Common Stock of the Company (the "Shares") to the Trust. Mr. Monroe remains the beneficial owner of the Shares.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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