$GSAT · Globalstar, Inc.
Globalstar director James F. Lynch reported the sale of 361,600 shares at $82.52 per share, totaling $29,839,232. The transaction was not executed under a pre-arranged 10b5-1 trading plan. Lynch retains 351,114 shares following the sale.
- Director James F. Lynch sold 361,600 shares at $82.52 each, totaling $29,839,232.
- The sale was not executed under a 10b5-1 trading plan.
- Post-transaction, Lynch retains 351,114 shares.
- The sale represents roughly half of Lynch's prior holdings based on post-transaction share count.
GSAT is up 0.24% in the regular session to $83.04. The $29.8M insider sale by a director without a 10b5-1 plan may weigh on sentiment in after-hours trading, though the stock's $10.69B market cap limits the relative size of the signal.
A board-level insider selling roughly half his stake for $29.8M without a 10b5-1 plan is a notable confidence signal, even at a $10.69B market cap.
_Not applicable._
No 10b5-1 plan means the sale was discretionary, which can signal reduced confidence from a board-level insider.
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