Globalstar director Wolff sells $4.7 million in stock By Investing.com

Benjamin G. Wolff, a director at Globalstar, Inc. (), sold a total of 56,711 shares of the company’s common stock across two transactions on August 11 and August 12, 2026. The sales amounted to approximately $4,725,980.

The shares were sold at prices ranging from $83.1852 to $83.5379 per share. On August 11, Mr. Wolff disposed of 24,000 shares at a volume-weighted average price of $83.5379. The following day, August 12, he sold an additional 32,711 shares at a volume-weighted average price of $83.1852. Following these transactions, Mr. Wolff directly holds 4,116 shares of Globalstar common stock.The insider sale comes as the stock trades near its 52-week high of $84.85, following a remarkable 203% return over the past year. According to InvestingPro analysis, Globalstar appears overvalued at current levels, landing it on the platform’s Most Overvalued list. Investors can access 16 additional ProTips and comprehensive financial metrics on InvestingPro to better understand the company’s valuation and prospects.

In other recent news, Amazon has proposed a significant expansion of its Leo project, seeking approval from the Federal Communications Commission to deploy up to 5,105 satellites. This initiative aims to provide direct-to-device voice and data connectivity, particularly in areas lacking terrestrial cellular coverage, with satellite deployment expected to commence in 2028. Meanwhile, Thermo Companies has entered into a strategic advisory partnership with Focus Automated Equities, where Thermo will offer guidance on business strategy and machine learning advancements.

In another development, Globalstar announced the postponement of its planned satellite launch with SpaceX, initially scheduled for May 17, to allow more time for preparation, with a new launch date yet to be confirmed. Additionally, Globalstar held its 2026 annual meeting of stockholders, where shareholders elected James F. Lynch and Timothy E. Taylor as Class B directors, set to serve until the 2029 annual meeting. The meeting also saw the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm for 2026 and the approval of executive compensation on an advisory basis. These developments reflect ongoing strategic and operational activities across these companies.

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