FORM 5
/X / Check this box if no longer
subject to Section 16. Form 4
or Form 5 obligation 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
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(f) of the
Investment Company Act of 1940
1. Name and Address of Reporting Person
General Electric Company
3135 Easton Turnpike
Fairfield, CT 06431
2. Issuer Name and Ticker or Trading Symbol
Globalstar Telecommunications, Inc. (GSTRF)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X ) 10% Owner (former)
( ) Officer (give title below) ( ) Other (specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X ) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<PAGE>
<TABLE>
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<CAPTION>
1. Title of Security 2. Trans- 3. Trans- 4. Securities 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) action action Acquired (A) or Secur- Form: Indirect
Date Code Disposed of (D) ities Direct (D) Beneficial
(Month/ (Instr. (Instr. 3, 4 Benefici- or Ownership
Day/ 8) and 5) ally Indirect (Instr. 4)
Year) Owned at (I)
End of (Instr. 4)
Year
(Instr.
---------- ------------------- 3 and 4)
Code Amount (A) Price
or (D)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 7/26/99 G 2,000,000 D $0 4,044,760 I Note 1
</TABLE>
Reminder: Report on a separate line for each class of securities benefically
owned directly or indirectly.
<PAGE>
<TABLE>
Table II -- Derivative Securities Acquired,
Disposed of, or Beneficially Owned (e.g., pus,
calls, warrants, options, convertible securities)
<CAPTION>
1. Title of Derivative 2. Conversion 3. Transaction 4. Transaction 5. Number of 6. Date
Security or Exercise Date Code Derivative Exercisable
(Instr. 3) Price of (Month/ (Instr. 8) Securities and
Derivative Day/Year) Acquired (A) Expiration
Security or Disposed Date
of (D) (Month/
(Instr. 3, 4, Day/Year)
---------------- and 5) ----------------
(A) (D) Date Expira-
Exer- tion
cisable Date
<S> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
Table II (continued)
<CAPTION>
7. Title and Amount 8. Price of Derivative 9. Number of 10. Ownership Form of 11. Nature of Indirect
of Underlying Security Derivative Derivative Beneficial
Securities (Instr. 5) Securities Security Ownership
Beneficially Owned Direct (D) or (Instr. 4)
at End of Year Indirect (I)
- ---------------------- (Instr. 4) (Instr. 4)
Title Amount or
Number of
Shares
<S> <C> <C> <C> <C> <C>
</TABLE>
Explanation of Responses:
Note 1: Owned through indirect wholly owned subsidiary.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Janet Bedol February 11, 2000
- ----------- -----------------
**Signature of Reporting Person Date
Attorney in Fact for General Electric Company
