Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Monroe James III
 2. Issuer Name and Ticker or Trading Symbol
Globalstar, Inc. [GSAT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Chairman
(Last)
(First)
(Middle)

461 SOUTH MILPITAS BLVD.		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2009
(Street)


MILPITAS, CA 95035		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

___ Form Filed by One Reporting Person
_X_ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
8% Convertible Senior Unsecured Notes   12/15/2009   J(2) $ 445,866.67   12/15/2009   (3) Voting Common Stock (4)
$ 445,866.67
(1) $ 445,866.67
I
By James Monroe III Trust
Common Stock Warrants (right to buy) $ 0.87 12/18/2009   J(5) 3,360,411   12/18/2009 06/19/2014 Voting Common Stock (4)
3,360,411
$ 0.87 3,360,411
I
By James Monroe III Trust
Common Stock Warrants (right to buy) $ 0.87 12/31/2009   J(5) 2,516,990   12/31/2009 12/31/2014 Voting Common Stock (4)
2,516,990
$ 0.87 2,516,990
I
By Thermo Funding Company LLC

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Monroe James III
461 SOUTH MILPITAS BLVD.
MILPITAS, CA 95035		   X   X   Executive Chairman  
Thermo Funding CO LLC
1735 NINETEENTH STREET
DENVER, CO 80202		     X    
Globalstar Holdings, LLC
1735 NINETEENTH STREET
DENVER, CO 80202		     X    

Signatures

By Bridget C. Hoffman, attorney-in fact for James Monroe III 02/16/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The conversion price is based on a trailing 10-day weighted average market price and may decrease if the Issuer engages in certain equity issuances below the current base conversion rate.
(2) Represents scheduled payment-in-kind interest.
(3) The 8% Notes mature when the Issuer pays and discharges all of its obligations under its Facility Agreement and the lenders thereunder have no further obligations to make advances under the Facility Agreement.
(4) Thermo Funding Company and its affiliates may not own more than 70% of the voting power of the Issuer. The securities must be converted into Nonvoting Common Stock if the conversion would cause onwership to exceed the 70% limit.
(5) Warrants issued pursuant to anti-dilution terms of warrants issued June 19, 2009.

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