GLOBALSTAR, INC. (NYSEMKT:GSAT) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k

7 years ago

GLOBALSTAR, INC. (NYSEMKT:GSAT) Files An 8-K Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders

Globalstar, Inc. (the “Company”) held its Annual Meeting of
Stockholders on May 16, 2017, at which 914,030,839>shares were
represented in person or by proxy. The Company submitted five
matters to the vote of stockholders. A summary of the matters voted
upon by stockholders is set forth below.

1. Stockholders elected each of the two nominees for Class B
director to serve for a term to expire at the 2020>Annual
Meeting of Stockholders by the following votes:



Name	Votes For	Votes Against	Abstentions	Broker Non-Votes
John M. R. Kneuer	765,518,973		2,816,685		5,527,797	140,167,384
James F. Lynch	760,871,230		7,473,842		5,518,383	140,167,384

2. Stockholders ratified the appointment of Crowe Horwath LLP as
the Companys independent registered accounting firm for the fiscal
year ending December 31, 2017 by the following votes:



Votes For	Votes Against	Abstentions	Broker Non-Votes
904,538,299		7,388,977		2,103,563

3. Stockholders approved the compensation of the Company’s named
executive officers by the following votes:



Votes For	Votes Against	Abstentions	Broker Non-Votes
765,629,370		2,626,443		5,607,642	140,167,384

4. Stockholders approved the the frequency of future advisory votes
for the Company’s executive compensation by the following votes:



One Year	Two Years	Three Years	Abstentions
58,980,409		547,591		708,599,139	5,736,316

Based on the voting results for Proposal 4 and consistent with the
Companys Board of Directors’ recommendation in the Companys proxy
statement for the Annual Stockholders Meeting, the Board of
Directors has determined that the Company will hold a future
advisory vote on the Companys executive compensation every three
years until the next required vote on the frequency of future
advisory votes on the Companys executive compensation.

5. Stockholders approved an amendment to the Company’s Amended and
Restated Certificate of Incorporation to increase the number of
authorized shares of the Company’s common stock by the following
votes:



Votes For	Votes Against	Abstentions	Broker Non-Votes
881,727,219		24,759,991		7,543,629

The amendment was filed with the Delaware Secretary of State and
became effective on May 17, 2017.

About GLOBALSTAR, INC. (NYSEMKT:GSAT)
Globalstar, Inc. (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways), which it refers to collectively as the Globalstar System. The Company’s services are available only with equipment designed to work on its network two-way voice communication and data transmissions (Duplex) using mobile or fixed devices, and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station, including certain SPOT and Simplex products. GLOBALSTAR, INC. (NYSEMKT:GSAT) Recent Trading Information
GLOBALSTAR, INC. (NYSEMKT:GSAT) closed its last trading session up +0.08 at 2.37 with 14,165,706 shares trading hands.