X0306 4 2013-06-17 0 0001006269 LORAL SPACE & COMMUNICATIONS INC. LORL 0001223765 TARGOFF MICHAEL B 600 THIRD AVENUE NEW YORK NY 10016 1 0 0 0 Common Stock 2013-06-17 4 M 0 294475 0 A 294475 D Common Stock 2013-06-17 4 D 0 142603 62.3975 D 151872 D Common Stock 2013-06-17 4 S 0 70000 61.8794 D 81872 D Restricted Stock Units 0 2013-06-17 4 M 0 175000 0 D 2013-06-17 2013-06-17 Common Stock 175000 0 D In addition to receipt of 175,000 shares of Common Stock in settlement of 175,000 vested restricted stock units, Mr. Targoff also received on the settlement date 119,475 shares of Common Stock, representing $42.60 in respect of each outstanding restricted stock unit ($13.60 in respect of the special dividend declared by the Company on March 28, 2012 and $29.00 in respect of the special distribution declared by the Company on November 7, 2012). Because the settlement date of Mr. Targoff's restricted stock units was June 15, 2013 which was not a trading day, the fair market value was determined using the average of the high and the low trading prices of the Common Stock on June 14, 2013 and June 17, 2013. The restricted stock units were subject to settlement on the earlier of (a) March 31, 2013, (b) the date of Mr. Targoff's death or disability, (c) the date of Mr. Targoff's separation from service (subject to a six-month delay pursuant to Section 409A (the "409A Delay Period")) and (d) the date of the consummation of a change in control of the Company. Mr. Targoff underwent a separation from service on December 14, 2012, and the 409A Delay Period expired on June 14, 2013 resulting in the settlement of the restricted stock units on June 17, 2013. Michael B. Targoff 2013-06-19