Globalstar gains 2% as CEO, exec and directors buy shares

Sep. 14, 2022 3:16 PM ETGlobalstar, Inc. (GSAT)By: Jason Aycock, SA News Editor1 Comment

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  • Globalstar stock (NYSE:GSAT) has jumped 2% in response to a number of filings indicating insider buying in the stock.
  • Director and 10% stakeholder James Monroe III on Monday bought 100,000 shares indirectly through Thermo Properties, at an average price of $1.8329.
  • Chief Executive Officer David Kagan on Monday bought 25,000 shares at an average price of $1.78; that leaves him with a direct stake of 3,333,270 shares. (That total figure includes 18,939 shares acquired through the employee stock purchase program this summer.)
  • Another director, Benjamin Wolff, bought 8,000 shares at an average price of $1.8075.
  • The company's general counsel, Barbee Ponder IV, purchased 11,000 shares at an average price just over $1.82, and another 3,000 shares near $1.78.

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