Hamid Akhavan - 31 Dec 2023 Form 4 Insider Report for EchoStar CORP (SATS)

Role: CEO and President, Director
Signature: /s/ Hamid Akhavan, by Dean Manson, his Attorney-In-Fact
Issuer symbol: SATS
Transactions as of: 31 Dec 2023
Net transactions value: -$950,505
Form type: 4
Filing time: 03 Jan 2024, 18:50:24 UTC
Previous filing: 27 Nov 2023
Next filing: 03 Apr 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SATS	Class A Common Stock	Award		+35,087	+35%		135,087	31 Dec 2023	Direct	F1
transaction	SATS	Class A Common Stock	Options Exercise		+150,000	+111%		285,087	31 Dec 2023	Direct	F2
transaction	SATS	Class A Common Stock	Tax liability	$950,505	-57,363	-13%	$16.57	377,724	31 Dec 2023	Direct	F7
holding	SATS	Class A Common Stock						240	31 Dec 2023	By 401(k)

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	Restricted Stock Units	Options Exercise	$0	-150,000	-75%	$0.000000	50,000	31 Dec 2023	Class A Common Stock	150,000		Direct	F2, F3
transaction	SATS	Restricted Stock Units	Disposed to Issuer		-50,000	-100%		0	31 Dec 2023	Class A Common Stock	50,000		Direct	F2, F3, F4
transaction	SATS	Employee Stock Option	Award	$0	+701,754		$0.000000	701,754	31 Dec 2023	Class A Common Stock	701,754	$16.57	Direct	F5
transaction	SATS	Restricted Stock Units	Award	$0	+263,158		$0.000000	263,158	01 Jan 2024	Class A Common Stock	263,158		Direct	F2, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Received in exchange for 100,000 shares of Class A Common Stock, par value $.01 par value per share ("DISH Class A Common Stock"), of DISH Network Corporation, a Nevada corporation ("DISH") in connection of the Amended and Restated Agreement and Plan of Merger, dated as of October 2, 2023 ("Merger Agreement"), by and between the Issuer, DISH and EAV Corp., a Nevada corporation and a wholly owned direct subsidiary of the Issuer ("Merger Sub"). Pursuant to the Merger Agreement, on December 31, 2023, Merger Sub merged with and into DISH with DISH surviving the merger as a wholly owned subsidiary of the Issuer (the "Merger"). At the effective time of the Merger (the "Effective Time"), each outstanding share of DISH Class A Common Stock was converted into the right to receive a number of Issuer Class A Common Stock equal to 0.350877 (the "Exchange Ratio").
F2	Restricted stock units convert into Class A Common Stock on a one-for-one basis.
F3	On April 1, 2022, the reporting person was granted 300,000 restricted stock units, vesting in three equal annual installments beginning on April 1, 2023.
F4	Pursuant to the Letter Agreement, dated October 2, 2023, by and between the Issuer and the reporting person (the "Letter Agreement"), the reporting person forfeited 50,000 unvested restricted stock units at the Effective Time in consideration for the compensation and benefits provided under the Letter Agreement.
F5	The option vests in three equal annual installments beginning on December 31, 2024.
F6	The restricted stock units vest on December 31, 2024.
F7	Represents shares withheld to cover certain tax obligations in connection with the vested restricted stock units listed in Table II.