Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-04

Globalstar (GSAT)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$2,032,547
Rebecca Clary total, FY2025
Vice President and Chief Financial Officerhighest-paid officer; CEO Paul Jacobs: $1,012,452
CEO (Paul Jacobs) pay percentile vs peers
10:1
CEO-to-median pay ratio
96.39%
Say-on-pay support, latest vote
Companies that benchmark against GSAT
2 companies name GSAT as a compensation peer

Each company listed discloses GSAT in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named GSAT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Rebecca Clary$420,000$150,000$1,451,302$0$0$0$11,245$2,032,547
Vice President and Chief Financial Officer
Paul Jacobs500,000300,000200,00000012,4521,012,452
Chief Executive Officer
L. Barbee Ponder IV340,330100,000334,4790005,923780,732
General Counsel and Vice President of Regulatory Affairs

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Rebecca Clary$2,032,547
Paul Jacobs1,012,452
L. Barbee Ponder IV780,732734,700

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Rebecca ClaryVP & Chief Financial Officer2026-04-14D4,037$80$322,354CommonForm 4 ↗
Rebecca ClaryVP & Chief Financial Officer2026-04-14A9,52400CommonForm 4 ↗
Rebecca ClaryVP & Chief Financial Officer2026-04-27D4,06681330,326CommonForm 4 ↗
Rebecca ClaryVP & Chief Financial Officer2026-04-27A9,52300CommonForm 4 ↗
William A. HaslerDirector2026-05-11A3,33300CommonForm 4 ↗
Keith O. CowanDirector2026-05-11A3,33300CommonForm 4 ↗
Timothy E. TaylorDirector2026-05-11A3,33300CommonForm 4 ↗
Benjamin G. WolffDirector2026-05-11A3,33300CommonForm 4 ↗
Rebecca ClaryVP & Chief Financial Officer2026-06-04D9208275,210CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
L. Barbee Ponder IVPSU2025-03-073,03270,009$70,009
Rebecca ClaryRSU2024-03-057,268145,000
L. Barbee Ponder IVRSU2024-12-065,333176,789
L. Barbee Ponder IV2024-03-055,012100,000
Rebecca ClaryPSU2025-03-072,16549,99049,990
L. Barbee Ponder IVPSU2025-11-101307,4857,485
Paul E. JacobsRSU2025-03-1013,806300,004
Rebecca ClaryRSU2024-12-275,426175,000
Rebecca ClaryPSU2025-03-104,832104,999104,999
Paul E. JacobsRSU2024-03-058,521170,000
Rebecca ClaryRSU2025-03-2766,6671,127,342
Rebecca ClaryPSU2025-11-101307,4857,485
Rebecca ClaryPSU2025-12-192,811174,985174,985
L. Barbee Ponder IVRSU2024-12-275,426175,000
L. Barbee Ponder IVPSU2025-03-1050610,99510,995
L. Barbee Ponder IVPSU2025-12-192,811174,985174,985
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
L. Barbee Ponder IV$351,789$263,474$042.8%
Rebecca Clary1,447,342337,459018.9%
Paul E. Jacobs470,004000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Rebecca ClaryRSU19,047$1,162,629
JacobsPSU1,661,902101,442,498
Rebecca ClaryRSU2,713165,602
L. Barbee Ponder IVRSU1,875114,450
Rebecca ClaryRSU1,875114,450
L. Barbee Ponder IVRSU2,713165,602
L. Barbee Ponder IVRSU2,022123,423
Rebecca ClaryRSU1,44488,142
05

Incentive-plan design — the Compensation Discussion & Analysis

Our goal is to create performance-based compensation that motivates management to increase stockholder value. We compensate our other executive officers with a conservative base salary and create performance and retention incentives through stock-based compensation and annual discretionary bonuses (which may be paid in cash or stock).

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantIndependent compensation consultant (name not disclosed)
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1397,774,4793,664,88598,23696.39%Passed
20232023-06-271,372,672,62910,769,07448,357,77099.22%Passed
20202020-06-161,246,975,51626,338,053122,784,36897.93%Passed
20172017-05-16765,629,3702,626,4435,607,64299.66%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1396.39%a
20232023-06-2799.22%b
20202020-06-1697.93%c

a. Approved under the standard stated in the filing — “Proposal Voting Options Vote Required to Approve the Proposal Effect of Abstentions / Withheld Votes Effect of Broker Non-Votes Election of the two Class B director nominees named in this proxy statement For or withhold for each director nominee Plurality No Effect No Effect Ratification of the selection of EY as our 2026 independent registered accounting firm For, against or abstain Majority of the votes entitled to be cast Same as vote against N/A (1) Approval, on an advisory basis, of the compensation of our named executive officers For, against or abstain Majority of the votes entitled to be cast Same as vote against Same as vote against 1.”.

b. Approved under the standard stated in the filing — “Shares represented by proxies that are marked to indicate abstentions from this proposal and broker non-votes with respect to this proposal will not affect its outcome.”.

c. Approved under the standard stated in the filing — “"Abstentions" and "broker non-votes" will not count as a vote cast with respect to that nominee's election.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)10 : 1
CEO total compensation$1,012,452
Median employee compensation$101,886
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Benjamin G. WolffIndependent · Audit · Compensation · Strategic Review (Chair)$50,000$111,500$187,000$0$0$348,500
Keith O. CowanIndependent · Audit · Nominating and Corporate Governance · Strategic Review50,000111,500187,00000348,500
Timothy E. TaylorNot independent · Strategic Review50,000111,500187,00000348,500
William A. HaslerIndependent · Audit (Chair) · Strategic Review50,000111,500187,00000348,500
James F. LynchNot independent50,00050,000187,00000287,000
James Monroe IIIEmployee director · Board Chair · Compensation (Chair) · Nominating and Corporate Governance (Chair)50,00050,000187,0000287,000
Dr. Paul E. JacobsEmployee director50,00050,000187,0000287,000
Michael J. LovettIndependent · Audit · Compensation · Departed during FY25,00050,000187,00000262,000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$50,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$375,000
Equity awards (grant-date value)$646,000
All other compensation$0
Total cost of the board$1,021,000

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Globalstar2025Paul Jacobs$500,000$200,000$0$0$1,012,452

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Rebecca ClaryDEF 14A2026-04-020001366868-26-000019Section “2025 Summary Compensation Table” · page 29. As printed: 2,032,547. Filing ↗machine: r6 · c21 · span 453776–453785
2Section 01, Paul JacobsDEF 14A2026-04-020001366868-26-000019Section “2025 Summary Compensation Table” · page 29. As printed: 1,012,452. Filing ↗machine: r3 · c21 · span 446734–446743
3Section 01, L. Barbee Ponder IVDEF 14A2026-04-020001366868-26-000019Section “2025 Summary Compensation Table” · page 29. As printed: 780,732. Filing ↗machine: t68 · r9 · c11 · span 460756–460763
4Section 03, L. Barbee Ponder IV PSUDEF 14A2026-04-020001366868-26-000019Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r9 · c8 · span 486777–486783
5Section 03, Rebecca Clary RSUDEF 14ASection “Executive Compensation” · grants of plan-based awards table.
6Section 03, L. Barbee Ponder IV RSUDEF 14ASection “Executive Compensation” · grants of plan-based awards table.
7Section 03, L. Barbee Ponder IV DEF 14A2026-04-020001366868-26-000019Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t68 · r9 · c4 · span 459658–459665
8Section 03, Rebecca Clary PSUDEF 14A2026-04-020001366868-26-000019Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r4 · c8 · span 478585–478591
9Section 03, L. Barbee Ponder IV PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r11 · c7 · span 489880–489885
10Section 03, Paul E. Jacobs RSUDEF 14A2026-04-020001366868-26-000019Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r3 · c9 · span 476830–476837
11Section 03, Rebecca Clary RSUDEF 14ASection “Executive Compensation” · grants of plan-based awards table.
12Section 03, Rebecca Clary PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r5 · c7 · span 480138–480145
13Section 03, Paul E. Jacobs RSUDEF 14A0001366868-26-000019Section “NEO,” · grants of plan-based awards table. Filing ↗machine: t72 · r4 · c1 · span 503276–503277
14Section 03, Rebecca Clary RSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r6 · c8 · span 481811–481820
15Section 03, Rebecca Clary PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r7 · c7 · span 483367–483372
16Section 03, Rebecca Clary PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r8 · c7 · span 484920–484927
17Section 03, L. Barbee Ponder IV RSUDEF 14ASection “Executive Compensation” · grants of plan-based awards table.
18Section 03, L. Barbee Ponder IV PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r10 · c7 · span 488328–488334
19Section 03, L. Barbee Ponder IV PSUDEF 14A2026-04-020001366868-26-000019Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t70 · r12 · c7 · span 491608–491615
20Section 07, pay ratioDEF 14A2026-04-020001366868-26-000019Section “CEO Pay Ratio”. As printed: 10 : 1. Filing ↗machine: span 752573–752575
21Section 08, Benjamin G. WolffDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 348,500. Filing ↗machine: r8 · c9 · span 322447–322454
22Section 08, Keith O. CowanDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 348,500. Filing ↗machine: r7 · c9 · span 320144–320151
23Section 08, Timothy E. TaylorDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 348,500. Filing ↗machine: r10 · c9 · span 327234–327241
24Section 08, William A. HaslerDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 348,500. Filing ↗machine: r6 · c9 · span 317844–317851
25Section 08, James F. LynchDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 287,000. Filing ↗machine: r5 · c9 · span 315541–315548
26Section 08, James Monroe IIIDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 287,000. Filing ↗machine: r3 · c9 · span 311174–311181
27Section 08, Dr. Paul E. JacobsDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 287,000. Filing ↗machine: r4 · c9 · span 313413–313420
28Section 08, Michael J. LovettDEF 14A2025-04-090001366868-25-000063Section “Director Compensation”. As printed: 262,000. Filing ↗
29Section 02, Rebecca Clary 2026-04-14Form 42026-04-150001571391-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Rebecca Clary 2026-04-14Form 42026-04-150001571391-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Rebecca Clary 2026-04-27Form 42026-04-280001571391-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Rebecca Clary 2026-04-27Form 42026-04-280001571391-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, William A. Hasler 2026-05-11Form 42026-05-210001038822-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Keith O. Cowan 2026-05-11Form 42026-05-210001026935-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Timothy E. Taylor 2026-05-11Form 42026-05-210001764225-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Benjamin G. Wolff 2026-05-11Form 42026-05-210001368618-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Rebecca Clary 2026-06-04Form 42026-06-040001571391-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
38Section 06, 2026 voteForm 8-K2026-05-150001366868-26-000031Item 5.07 · say-on-pay result. As reported: 96.39% (votes for as printed: 97,774,479). Filing ↗
39Section 06, 2023 voteForm 8-K2023-06-270001366868-23-000093Item 5.07 · say-on-pay result. As reported: 99.22% (votes for as printed: 1,372,672,629). Filing ↗
40Section 06, 2020 voteForm 8-K2020-06-160001366868-20-000056Item 5.07 · say-on-pay result. As reported: 97.93%. Filing ↗
41Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
42Section 09b board cost (computed)ComputedcomputedCash 375,000 + equity 646,000 + all other 0 = 1,021,000, summed across the director compensation table rows.machine: formula: Σ = 1,021,000
43Globalstar (subject), Section 10b CEO totalDEF 14A2026-04-020001366868-26-000019CEO total compensation as printed in Globalstar's own proxy. As printed: 1,012,452. Filing ↗machine: r3 · c21 · span 446734–446743