Telluray Holdings, LLC - 31 Dec 2023 Form 4 Insider Report for EchoStar CORP (SATS)

Role: 10%+ Owner
Signature: /s/ Cantey M. Ergen, Manager of Telluray Holdings, LLC, by Dean Manson, Attorney-in-Fact
Issuer symbol: SATS
Transactions as of: 31 Dec 2023
Net transactions value: $0
Form type: 4
Filing time: 03 Jan 2024, 18:59:50 UTC
Next filing: 29 Dec 2025
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		+2,350,696			2,350,696	31 Dec 2023	Direct	F1

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	Award		+22,382,661	+175%		35,190,866	31 Dec 2023	Class A Common Stock	22,382,661		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Received in exchange for 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 with 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	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.
F3	Received in exchange for shares of DISH Class B Common Stock in connection with the Merger. At the Effective Time, each outstanding share of DISH Class B Common Stock was converted into the right to receive a number of shares of Issuer Class B Common Stock equal to the Exchange Ratio.