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 | -8.72M | -62.72% | $0.00 | 5.18M | Dec 21, 2023 | Class A Common Stock | 8.72M | Direct | F1, F2 |
Id | Content |
---|---|
F1 | 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. |
F2 | 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. Pursuant to the terms of the 2022 December GRAT, 8,718,426 Class B shares were distributed as an annuity payment to Mr. Ergen on December 21, 2023, with the 2022 December GRAT retaining 5,181,574 Class B shares. 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. |