Globalstar (GSAT) Proxy filing summary

Executive summary

• Annual Meeting scheduled for May 13, 2026, at company headquarters; record date is March 23, 2026.

• Stockholders will vote on electing two Class B directors, ratifying Ernst & Young LLP as auditor, and approving executive compensation on an advisory basis.

• Proxy materials are distributed electronically, with options for internet, phone, mail, or in-person voting.

• 2025 financials show record revenue of $273M and Adjusted EBITDA of $136M, with a 50% EBITDA margin.

• Company expanded satellite IoT capabilities and global infrastructure, and diversified into government and defense markets.

Voting matters and shareholder proposals

• Proposal 1: Elect James F. Lynch and Timothy E. Taylor as Class B Directors for terms expiring in 2029.

• Proposal 2: Ratify Ernst & Young LLP as independent registered public accounting firm for 2026.

• Proposal 3: Advisory vote to approve named executive officer compensation (say-on-pay).

• Board recommends voting FOR all proposals.

• Shareholder proposals for the 2027 meeting must be received by December 3, 2026.

Board of directors and corporate governance

• Board consists of seven members divided into three classes with staggered three-year terms.

• Four standing committees: Audit, Compensation, Nominating and Governance, and Strategic Review.

• Audit Committee is fully independent; separation of Executive Chairman and CEO roles.

• Strategic Review Committee oversees major transactions and related party matters due to controlled company status.

• Board and committees met regularly in 2025; all directors attended at least 75% of meetings.