Globalstar 8-K 2007
Pursuant to Section 13 or 15(d) of the
Date of Report (Date of earliest event reported): June 9, 2007
Registrants telephone number, including area code: (408) 933-4000
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 9, 2007, Megan C. Fitzgerald, Senior Vice President, Strategic Initiatives and Space Operations Group, notified Globalstar, Inc. (the Company) that she would resign from her position and employment effective August 17, 2007. On that date, Anthony J. Navarra, currently the Companys President Global Operations, will assume the responsibilities and additional title of Acting Senior Vice President of Strategic Initiatives and Space Operations on an interim basis.
Ms. Fitzgerald and the Company entered into an agreement dated June 11, 2007 under which Ms. Fitzgerald will receive on August 17, 2007 a one-time cash bonus of $250,000 in recognition, among other things, of her outstanding service to the Company during 2007.
Item 7.01 Regulation FD Disclosure
The Company issued a press release concerning matter described in Item 5.02(b) on June 13, 2007. The text of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in this Item and the Exhibit attached hereto are furnished pursuant to the rules and regulations of the Securities and Exchange Commission and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release dated June 13, 2007
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
Date: June 13, 2007