Benjamin G. Wolff, a director at satellite communications firm Globalstar Inc., sold shares worth approximately $1.64 million following the exercise of stock options, according to a Form 4 filing with the U.S. Securities and Exchange Commission. The transaction, executed on August 27, 2026, involved the sale of 19,998 voting common shares at prices ranging from $81.73 to $82.14 per share, with a volume-weighted average price of $81.98.
Wolff also acquired 19,998 shares through the exercise of stock options at varying strike prices, totaling $443,622 in costs. The exercised options included 6,666 shares at $17.40, 6,666 shares at $19.50, 4,444 shares at $28.05, and 2,222 shares at $32.85. These figures reflect adjustments made after Globalstar's 1-for-15 reverse stock split in February 2025.
Following the transactions, Wolff retains direct ownership of 4,116 Globalstar voting common shares. The company's stock has surged 173% over the past year, trading near its 52-week high of $84.85 at the time of the filing.
Globalstar's shares have gained momentum amid broader interest in satellite communications infrastructure, including Amazon's Project Kuiper, which aims to deploy thousands of satellites for global connectivity. The firm's stock valuation has drawn attention from financial analytics platforms, with InvestingPro flagging it as overvalued relative to estimated fair value.
