| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | SATS | Employee Stock Option (Right to Buy) | Disposed to Issuer | $0 | -700K | -100% | $0.00* | 0 | Apr 1, 2024 | Class A Common Stock | 700K | $25.21 | Direct | F1, F2 |
| transaction | SATS | Employee Stock Option (Right to Buy) | Award | $0 | +408K | $0.00 | 408K | Apr 1, 2024 | Class A Common Stock | 408K | $14.04 | Direct | F1, F3 | |
| transaction | SATS | Employee Stock Option (Right to Buy) | Award | $0 | +81.7K | $0.00 | 81.7K | Apr 1, 2024 | Class A Common Stock | 81.7K | $14.04 | Direct | F1, F4 |
| Id | Content |
|---|---|
| F1 | The transactions reported herein reflect the exchange of "underwater" options to acquire shares of the Issuer's Class A Common Stock pursuant to the terms and conditions set forth in the Issuer's Offer to Exchange Eligible Stock Options dated March 4, 2024, which expired on April 1, 2024 (the "Exchange"). Effective April 1, 2024, the Issuer cancelled the options the Reporting Person elected to exchange and granted to the Reporting Person new options with, among other new terms, a new exercise price, a different vesting schedule and in certain cases a different number of options, for options that are not subject to achievement of certain performance criteria. The new exercise price is $14.04, which is the closing price of the Issuer's Class A Common Stock on April 1, 2024. |
| F2 | The option vests in three equal annual installments beginning on December 31, 2024. |
| F3 | 40% of the shares underlying these options vested immediately upon the grant date. The remaining 60% of the shares underlying these options vest 30% per year on each of April 1, 2025 and April 1, 2026. |
| F4 | The shares underlying these options vest 25% per year on each of April 1, 2025, April 1, 2026, April 1, 2027 and April 1, 2028. |