Two-Year December 2020 Sats Grat Ergen - 21 Dec 2021 Form 4 Insider Report for EchoStar CORP (SATS)

Role
10%+ Owner
Signature
/s/ Cantey M. Ergen, Trustee of the Ergen Two-Year December 2020 SATS GRAT, by Stephanie D. Marks, her Attorney-in-Fact
Issuer symbol
SATS
Transactions as of
21 Dec 2021
Net transactions value
$0
Form type
4
Filing time
23 Dec 2021, 15:25:04 UTC
Next filing
23 Dec 2022
SEC
View on sec.gov

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 -7,369,140 -35% $0.000000 13,630,860 21 Dec 2021 Class A Common Stock 7,369,140 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person may elect to convert any or all of its Class B shares into an equal number of Class A shares at any time for no additional consideration.
F2 On December 21, 2020, Mr. Charles W. Ergen established the Ergen Two-Year December 2020 SATS GRAT (the "2020 December GRAT") and contributed a total of 21,000,000 Class B shares to such trust. Pursuant to the terms of the 2020 December GRAT, 7,369,140 Class B shares were distributed as an annuity payment to Mr. Ergen on December 21, 2021, with the 2020 December GRAT retaining 13,630,860 Class B shares. The 2020 December GRAT is scheduled to expire in accordance with its terms on December 21, 2022. Mrs. Cantey M. Ergen serves as the trustee of the 2020 December GRAT.