01—Abstract
Summary
Summary of the 8-K filed May 15, 2026. Cited figures are marked; the original filing is the authoritative source.
Globalstar, Inc. filed this Form 8-K to report the results of its 2026 annual meeting of stockholders, held May 13, 2026.
The filing covers routine governance matters only: the election of two Class B directors, ratification of Ernst & Young LLP as auditor for 2026, and an advisory say-on-pay vote. It contains no financial results, guidance, transactions, or strategic announcements, so it is unlikely to move the stock on its own. Stockholder turnout was strong, with 115,549,917 of 128,591,126 outstanding shares (about 89.9%a) represented.
Both director nominees, James F. Lynch and Timothy E. Taylor, were elected to terms ending at the 2029 annual meeting.
Lynch drew about 90.8%b of votes cast in his favor, while Taylor drew about 95.4%. Each received a meaningful number of withhold votes, with Lynch's withhold share (about 9.2% of votes cast) notably higher than Taylor's (about 4.6%), which investors may want to note. The auditor ratification passed with about 99.4% of shares represented voting in favor, indicating little dissent on the choice of Ernst & Young.
The advisory say-on-pay proposal passed with about 96.3%c of votes cast in favor, suggesting broad stockholder acceptance of executive compensation. Investors seeking company-specific fundamentals should consult the company's quarterly and annual reports rather than this filing.
02—Key points
Key Highlights
- Annual meeting held May 13, 2026, with 115,549,917 of 128,591,126 outstanding shares (about 89.9%) represented in person or by proxy.
- James F. Lynch and Timothy E. Taylor were elected as Class B directors, with terms running to the 2029 annual meeting; Lynch received 92,212,990 votes for and 9,324,610 withheld, and Taylor received 96,896,894 for and 4,640,706 withheld.
- Lynch's support (about 90.8% of votes cast) was lower than Taylor's (about 95.4%), with a higher withhold count, which is worth monitoring for governance signals.
- Ernst & Young LLP was ratified as independent registered public accounting firm for 2026, with 114,793,734 votes for (about 99.4% of shares voting) and 614,674 against.
- The advisory say-on-pay proposal on named executive officer compensation passed with 97,774,479 votes for and 3,664,885 against, about 96.3% support among votes cast.
- Broker non-votes of 14,012,317 applied to the director elections and say-on-pay proposal, which is typical for routine and non-routine matters where brokers lack discretion.
- The filing reports no financial results, guidance, M&A activity, or capital allocation changes, so it has limited direct investment impact.
03—Questions
Frequently Asked Questions
Did Globalstar report any financial results or guidance in this filing?
No. This 8-K reports only the outcome of the May 13, 2026 annual meeting of stockholders. It contains no earnings, revenue, guidance, or balance sheet information. Investors should refer to the company's periodic reports for financial data.
Were the director nominees elected, and how much opposition was there?
Yes. James F. Lynch and Timothy E. Taylor were both elected as Class B directors. Lynch received about 90.8% of votes cast in favor and Taylor about 95.4%. Both had withhold votes, with Lynch's share higher, but neither result indicates a failed election.
Did stockholders approve the auditor and executive pay?
Yes. Ernst & Young LLP was ratified as the 2026 independent auditor with about 99.4% of shares voting in favor. The advisory say-on-pay vote passed with about 96.3% of votes cast in favor. Because say-on-pay is advisory, it does not bind the board, but the strong support suggests limited stockholder concern with compensation practices.
Why does the filing show a large number of broker non-votes?
Broker non-votes (14,012,317) occur when brokers holding shares in street name do not vote on a matter because they lack discretionary authority under NYSE rules. They are counted toward quorum but not toward the vote tally for the affected proposals, so they do not reduce the reported percentages of votes cast.
04—Continue