Telesat Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:TSAT Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
23 May 24	SellUS$95	Paul Firkins	Individual		10	US$9.45
29 Nov 23	SellUS$53	Paul Firkins	Individual		5	US$10.63

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top 25 shareholders own 88% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
21.2%	GAMCO Investors, Inc.	2,972,419	US$37.1m	-13.8%	0.14%
12.7%	Heard Capital LLC	1,778,837	US$22.2m	0%	1.19%
6.83%	Rubric Capital Management LP	959,764	US$12.0m	0%	0.17%
5.86%	Qwest Investment Fund Management Ltd.	823,000	US$10.3m	0%	16.46%
5.83%	Daniel Goldberg	819,118	US$10.2m	0%	no data
4.75%	Philosophy Capital Management LLC	667,287	US$8.3m	0%	0.99%
4.62%	Greywolf Capital Management LP	649,025	US$8.1m	0%	11.79%
3.87%	Highland Capital Management, L.P.	543,823	US$6.8m	0%	1.04%
3.45%	Daniel Lau	485,500	US$6.1m	0%	no data
3.45%	Christine Man	485,500	US$6.1m	0%	no data
2.6%	Simplify Asset Management Inc.	365,781	US$4.6m	0%	0.29%
2.6%	Propel Bio Management, LLC	365,781	US$4.6m	0%	2.54%
2.2%	Michael Schwartz	309,147	US$3.9m	0%	no data
1.28%	Gabelli & Company Investment Advisers, Inc.	179,422	US$2.2m	-6.62%	0.42%
1.05%	Andrew Browne	147,987	US$1.8m	0%	no data
1.01%	Tejara Capital Limited., Asset Management Arm	141,470	US$1.8m	-10.6%	0.79%
0.72%	Michael Targoff	101,872	US$1.3m	0%	no data
0.72%	David Wendling	101,092	US$1.3m	0%	no data
0.69%	Christopher DiFrancesco	96,278	US$1.2m	0%	no data
0.6%	Glenn Katz	83,788	US$1.0m	0%	no data
0.5%	Michèle Beck	69,804	US$872.4k	0%	no data
0.45%	Gabelli Foundation Inc, Endowment Arm	63,317	US$791.3k	15.1%	2.1%
0.43%	John Flaherty	60,194	US$752.3k	0%	no data
0.35%	Pathstone Family Office, LLC	48,985	US$612.2k	0%	no data
0.34%	Connor, Clark & Lunn Investment Management Ltd.	47,795	US$597.3k	-5.42%	no data