GLOBALSTAR VOTING INC (GSAT)
Sector: Communication
2026 Annual Meeting Analysis
GLOBALSTAR VOTING INC · Meeting: May 13, 2026
Directors FOR
2
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Class B Directors
Lynch has served since 2003 and has relevant telecom and finance experience; GSAT's 3-year price return of 362.7% outperforms the XLC sector ETF by approximately 264 percentage points, far exceeding the 65-point threshold required to trigger an against vote, so the TSR test does not apply, and no other policy flags are triggered.
Taylor has served since 2018, brings direct operational knowledge of Globalstar as its Vice President of Finance, and GSAT's exceptional stock outperformance versus the XLC ETF (+264pp vs. the 65pp trigger threshold) means the TSR test does not apply; no overboarding, attendance, or independence flags are triggered.
Both Class B director nominees clear all policy screens; GSAT's 3-year total shareholder return of 362.7% outperforms the XLC sector ETF by approximately 264 percentage points, well above the 65-point threshold needed to trigger an against vote, so the TSR trigger does not fire for either director.
Say on Pay
✓ FORCEO
Dr. Paul E. Jacobs
Total Comp
$1,012,452
Prior Support
76%%
The CEO's total reported compensation for 2025 was $1,012,452 — a base salary of $500,000 plus a $300,000 cash bonus and $200,000 in stock awards — which is a conservative level for a CEO of a $10 billion market-cap telecom company and is well within reasonable benchmarks for title, sector, and size. The company's stock delivered a 3-year return of 362.7%, vastly outperforming the XLC sector ETF, meaning any above-benchmark incentive pay is clearly justified by exceptional shareholder returns. The prior say-on-pay vote received 76% support (above the 70% threshold), the company has a meaningful clawback policy, and compensation is tied to Adjusted EBITDA performance, a measurable multi-year operating metric.
Auditor Ratification
✓ FORAuditor
Ernst & Young LLP
Tenure
6 yrs
Audit Fees
$1,475,000
Non-Audit Fees
$529,667
EY's non-audit fees (tax services of $529,667) represent approximately 36% of audit fees ($1,475,000), which is well below the 50% threshold that would raise independence concerns; EY has served since the 2020 audit (roughly 6 years), far short of the 25-year tenure threshold; and EY is a Big 4 firm fully appropriate for a $10 billion market-cap company.
Overall Assessment
The 2026 Globalstar annual meeting presents three standard proposals — director elections, auditor ratification, and an advisory compensation vote — all of which pass policy screens and receive a FOR determination. GSAT's extraordinary stock performance (+363% over three years, outpacing the XLC ETF by over 264 percentage points) and conservative CEO pay of approximately $1 million mean that no compensation or director accountability flags are triggered.