Charles W. Ergen - Mar 31, 2023 Form 4 Insider Report for EchoStar CORP (SATS)

Role
Chairman, Director, 10%+ Owner
Signature
/s/ Charles W. Ergen, by Dean A. Manson, his Attorney-in-Fact
Stock symbol
SATS
Transactions as of
Mar 31, 2023
Transactions value $
$0
Form type
4
Date filed
4/4/2023, 04:06 PM
Previous filing
Apr 3, 2023
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SATS Class A Common Stock 2.2M Mar 31, 2023 Direct
holding SATS Class A Common Stock 6.12K Mar 31, 2023 By child F1
holding SATS Class A Common Stock 47 Mar 31, 2023 By spouse
holding SATS Class A Common Stock 3.71K Mar 31, 2023 By 401(k)
holding SATS Class A Common Stock 201 Mar 31, 2023 By spouse's 401(k)
holding SATS Class A Common Stock 5.4K Mar 31, 2023 By Charitable Foundation F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SATS Class B Common Stock Gift $0 -6.21M -62.69% $0.00 3.69M Mar 31, 2023 Class A Common Stock 6.21M I F3, F4
transaction SATS Class B Common Stock Gift $0 +6.21M +24760.92% $0.00 6.23M Mar 31, 2023 Class A Common Stock 6.21M Direct F3, F4
holding SATS Class B Common Stock 13.9M Mar 31, 2023 Class A Common Stock 13.9M I F3, F5
holding SATS Class B Common Stock 7M Mar 31, 2023 Class A Common Stock 7M I F3, F6
holding SATS Class B Common Stock 4.05M Mar 31, 2023 Class A Common Stock 4.05M I F3, F7
holding SATS Class B Common Stock 12.8M Mar 31, 2023 Class A Common Stock 12.8M I F3, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting persons disclaim beneficial ownership of these shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F2 These shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F3 The holder of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration.
F4 On March 31, 2022, Mr. Ergen established the Ergen Two-Year March 2022 SATS GRAT (the "2022 March GRAT") and contributed a total of 9,900,000 Class B shares to such trust. Pursuant to the terms of the 2022 March GRAT, 6,206,572 Class B shares were distributed as an annuity payment to Mr. Ergen on March 31, 2023 with the 2022 March GRAT retaining 3,693,428 Class B shares. The 2022 March GRAT is scheduled to expire in accordance with its terms on March 31, 2024. Mrs. Cantey M. Ergen serves as the trustee of the 2022 March GRAT.
F5 On December 21, 2022, Mr. Charles W. Ergen established the Ergen Two-Year December 2022 SATS GRAT (the "2022 December GRAT") and contributed a total of 13,900,000 Class B Shares to such trust. The 2022 December GRAT is scheduled to expire in accordance with its terms on December 21, 2024. Mrs. Cantey M. Ergen serves as the trustee of the 2022 December GRAT.
F6 On June 23, 2022, Mr. Ergen established the Ergen Two-Year June 2022 SATS GRAT (the "2022 June GRAT") and contributed a total of 7,000,000 Class B shares to such trust. The 2022 June GRAT is scheduled to expire in accordance with its terms on June 23, 2024. Mrs. Cantey M. Ergen serves as the trustee of the 2022 June GRAT.
F7 On June 9, 2021, Mr. Ergen established the Ergen Two-Year June 2021 SATS GRAT (the "2021 June GRAT") and contributed a total of 9,000,000 Class B shares to such trust. The 2021 June GRAT currently holds 4,053,768 Class B shares and is scheduled to expire in accordance with its terms on June 9, 2023. Mrs. Cantey M. Ergen serves as the trustee of the 2021 June GRAT.
F8 These shares are held by Telluray Holdings, LLC ("Telluray"). Mrs. Ergen has sole voting power over the Class B shares held by Telluray and Mr. Ergen and Mrs. Ergen share dispositive power over the Class B shares held by Telluray. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.