8-KShareholder Matters

Globalstar, Inc. 8-K Report, Shareholder Vote Results (May 23, 2022)

Filed May 23, 2022For Securities:GSAT

Summary

Globalstar, Inc. (GSAT) held its Annual Meeting of Stockholders on May 23, 2022, with a significant portion of its shares represented. The meeting's primary outcomes involved the election of Class A directors and the ratification of the independent auditor. Investors should note that Thermo Companies and its affiliates had certain voting restrictions for the director election, which is a detail that impacts the interpretation of the voting results. The election of directors saw both nominees, Keith O. Cowan and Benjamin G. Wolff, successfully elected to serve until the 2025 Annual Meeting of Stockholders. The ratification of Ernst & Young LLP as the independent registered accounting firm for the fiscal year ending December 31, 2022, also passed with overwhelming support, indicating continued confidence in the firm's audit services.

Key Highlights

  • 1Globalstar held its Annual Meeting of Stockholders on May 23, 2022.
  • 2Both nominees for Class A director, Keith O. Cowan and Benjamin G. Wolff, were elected to serve until the 2025 Annual Meeting.
  • 3Ernst & Young LLP was ratified as the independent registered accounting firm for the fiscal year ending December 31, 2022.
  • 4The Thermo Companies and its affiliates had voting restrictions for the election of Class A Directors.
  • 5A total of 1,604,260,360 shares were represented in person or by proxy at the meeting.
  • 6The ratification of the auditor received strong approval, with 1,598,010,319 shares voting in favor.

Frequently Asked Questions

The main outcomes were the election of two Class A directors, Keith O. Cowan and Benjamin G. Wolff, and the ratification of Ernst & Young LLP as the company's independent registered accounting firm for the fiscal year ending December 31, 2022.

Yes, the filing notes that The Thermo Companies and its affiliates were not entitled to vote their owned shares for the election of Class A Directors, which is a notable detail affecting the total voting power for that specific matter.

Both director nominees received a majority of the votes cast. Keith O. Cowan received 146,639,621 'For' votes, and Benjamin G. Wolff received 260,698,036 'For' votes. It's important to consider the context of broker non-votes and abstentions, as well as the restrictions on Thermo Companies' vote.

Yes, the appointment of Ernst & Young LLP as the independent registered accounting firm for fiscal year 2022 was overwhelmingly ratified, with 1,598,010,319 shares voting in favor, indicating strong stockholder confidence in the auditor.