Globalstar’s CFO Rebecca Clary sells $53,209 in stock

Published 12/03/2025, 22:50
Globalstar’s CFO Rebecca Clary sells $53,209 in stock

Globalstar, Inc. (NYSE:GSAT), which has seen its stock surge 25.2% over the past six months despite a challenging year-to-date performance (-28.63%), recently disclosed that its Vice President and Chief Financial Officer, Rebecca Clary, sold shares of the company’s stock. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 3.16. According to a Form 4 filing, Clary sold 2,402 shares of Globalstar’s voting common stock on March 12 at a weighted average price of $22.1522 per share. The total transaction value amounted to $53,209.

The filing also noted that Clary acquired 4,832 shares of restricted stock on March 10, which vested immediately upon grant under Globalstar’s Equity Incentive Plan. These shares were awarded at no cost.

Following these transactions, Clary holds a total of 102,741 shares in Globalstar. The shares sold were part of a transaction to cover taxes due upon the vesting of restricted stock.

In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a significant miss in earnings per share (EPS) expectations. The company posted an EPS of -$0.42, which was well below the forecast of -$0.0012. Despite this, Globalstar achieved a revenue of $61.17 million, surpassing the expected $60.24 million, marking a 17% year-over-year increase. The company’s annual adjusted EBITDA also rose by 16% to $135.3 million, with an EBITDA margin of 54%. Looking ahead, Globalstar has projected its 2025 revenue to be between $260 million and $285 million, aiming for an adjusted EBITDA margin of around 50%. Additionally, the company has been focusing on strategic initiatives, including the launch of new satellite solutions and expansion into 5G technology. Analysts from firms like B. Riley Securities and Morgan Stanley (NYSE:MS) have been closely monitoring these developments, with discussions touching on Globalstar’s future plans and market potential.

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