UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act 1934
Date of Report (Date of earliest event reported): August 28, 2014
GLOBALSTAR, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-33117 | 41-2116508 |
(State or Other Jurisdiction of Incorporation | (Commission File Number) | (IRS Employer Identification No.) |
300 Holiday Square Blvd., Covington, Louisiana | 70433 |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (985) 335-1500
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
£ | Soliciting material pursuant Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
£ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d.2(b)) | |
£ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers.
On August 28, 2014, Globalstar, Inc. announced the appointment of Rebecca S. Clary as Vice President and Chief Financial Officer. Ms. Clary, age 35, joined the Company in September 2010 as Manager of Corporate Accounting and served most recently as Chief Accounting Officer (since January 2013) and Corporate Controller (since August 2012). Prior to joining Globalstar, she was a manager with PricewaterhouseCoopers LLP in its U.S. Audit & Assurance Services practice, where she worked from 2002 to 2010. Ms. Clary is a Certified Public Accountant.
Ms. Clary does not have any family relationship with any director or executive officer of Globalstar and has not been directly or indirectly involved in any related person transactions with the Company. In connection with her promotion, Ms. Clary received a restricted stock award grant of 100,000 shares and options to purchase 40,000 shares, both of which vest over a three-year period.
Item 9.01 | Financial Statements and Exhibits |
(d) | Exhibits |
99.1 Press Release dated August 28, 2014
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GLOBALSTAR. INC. | |
/s/ James Monroe III | |
James Monroe III | |
Chairman and Chief Executive Officer | |
Date: August 28, 2014
Exhibit 99.1
NEWS
For Immediate Release
For Immediate Release
Globalstar Announces Promotion of Rebecca Clary
to Vice President and Chief Financial Officer
Covington, LA (August 28, 2014) – Globalstar, Inc. (NYSE MKT: GSAT), today announced the Company has promoted Rebecca Clary to Vice President and Chief Financial Officer effective immediately. Ms. Clary joined Globalstar in September 2010 and has most recently held the positions of Chief Accounting Officer since January 2013 and Corporate Controller since August 2012. Prior to joining Globalstar, she was a manager with PricewaterhouseCoopers LLP in its U.S. Audit & Assurance Services practice, where she worked from 2002 to 2010. Ms. Clary is a licensed Certified Public Accountant.
“Rebecca brings the right talents and experiences to the role and has been a major asset to Globalstar. We have been impressed with her ability to work with multiple constituencies including our stockholders, the investment community and the operating segments of our business. Her strength in dealing with sophisticated accounting matters has demonstrated her ability to serve successfully in her new role as we continue to lead the growing market for mobile satellite services,” said Jay Monroe, Chairman and CEO.
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Globalstar customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Globalstar customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
For more information and a list of dealers and retailers, visit www.globalstar.com.
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