FORM 4

Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).
(Print or Type Responses)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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(h) of the Investment Company Act of 1940

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  1. Name and Address of Reporting Person*

TARGOFF MICHAEL B

  1. Issuer Name and Ticker or Trading Symbol

LORAL SPACE & COMMUNICATIONS LTD (LRLSQ)

  1. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)
X
Director
10% Owner
Officer (give
            title below)
Other (specify
             below)
(Last) (First) (Middle)

1330 AVENUE OF THE AMERICAS, 36TH FLOOR

  1. Date of Earliest
    Transcaction Required
    to be Reported
    (Month/Day/Year)

2012-11-29

  1. If Amendment,
    Date Original
    Filed(Month/Day/Year)

(Street)

NEW YORK

NY

10019

  1. Individual or Joint/Group Filing (Check Applicable Line)
  • X
    Form filed by One Reporting Person
  • 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)
  1. Trans-
    action
    Date
    (Month/
    Day/
    Year)
  1. Deemed
    Execution
    Date, if
    any
    (Month/
    Day/Year)
  1. Transaction
    Code
    (Instr. 8)
  1. Securities Acquired (A)
    or Disposed of (D)
    (Instr. 3, 4 and 5)
  1. Amount of
    Securities
    Beneficially
    Owned
    Following
    Reported
    Transaction (s)
    (Instr. 3 and 4)
  1. Ownership
    Form:
    Direct
    (D) or
    Indirect
    (I)
    (Instr. 4)
  1. Nature of
    Indirect
    Beneficial
    Ownership
    (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 2012-11-29 5 G 0 E 25894 D 0 538587 D
Common Stock 2012-12-03 4 D 0 300000 D 82.005 238587 D



FORM 4 (continued)
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)
  1. Con- version or Exercise Price of Deri- vative Security
  1. Trans- action Date (Month/ Day/ Year)
  1. Deemed Execution Date, if any (Month/ Day/ Year)
  1. Trans- action Code (Instr. 8)
  1. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)
  1. Date Exercisable and Expiration Date (Month/Day/Year)
  1. Title and Amount of Underlying Securities (Instr. 3 and 4)
  1. Price of Derivative Security (Instr. 5)
  1. Number of derivative Securities Benefi- cially Owned following Reported Transaction (s)(Instr.4)
  1. Owner- ship Form of Deri- vative Secu- rity: Direct (D) or Indirect (I) (Instr. 4)
  1. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or number of shares
NO TRANSACTIONS
2012-12-03
Michael B. Targoff
Date
** Signature of Reporting Person
Page 2