Charles W. Ergen - May 13, 2024 Form 4 Insider Report for EchoStar CORP (SATS)

Signature
/s/ Charles W. Ergen, by Dean A. Manson, Attorney-in-Fact
Stock symbol
SATS
Transactions as of
May 13, 2024
Transactions value $
$0
Form type
4
Date filed
5/15/2024, 06:42 PM
Previous filing
May 3, 2024
Next filing
Jun 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SATS Class A Common Stock Gift $0 -9.12M -100% $0.00* 0 May 13, 2024 I F1
transaction SATS Class A Common Stock Gift $0 +9.12M +409.05% $0.00 11.4M May 13, 2024 Direct F1
holding SATS Class A Common Stock 11.3K May 13, 2024 I F2
holding SATS Class A Common Stock 213 May 13, 2024 I F3
holding SATS Class A Common Stock 1.19K May 13, 2024 I F4
holding SATS Class A Common Stock 9.97K May 13, 2024 I F5
holding SATS Class A Common Stock 766K May 13, 2024 I F6
holding SATS Class A Common Stock 2.35M May 13, 2024 I F7

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 -2.26M -23.01% $0.00 7.56M May 13, 2024 Class A Common Stock 2.26M I F1, F8
transaction SATS Class B Common Stock Gift $0 +2.26M +60.13% $0.00 6.02M May 13, 2024 Class A Common Stock 2.26M Direct F1, F8
transaction SATS Class B Common Stock Gift $0 -6M -99.65% $0.00 21.2K May 13, 2024 Class A Common Stock 6M Direct F8, F9
transaction SATS Class B Common Stock Gift $0 +6M $0.00 6M May 13, 2024 Class A Common Stock 6M I F8, F9
holding SATS Class B Common Stock 35.2M May 13, 2024 Class A Common Stock 35.2M I F7, F8
holding SATS Class B Common Stock 2.69M May 13, 2024 Class A Common Stock 2.69M I F8, F10
holding SATS Class B Common Stock 5.18M May 13, 2024 Class A Common Stock 5.18M I F8, F11
holding SATS Class B Common Stock 14.5M May 13, 2024 Class A Common Stock 14.5M I F8, F12
holding SATS Class B Common Stock 31.4M May 13, 2024 Class A Common Stock 31.4M I F8, F13
holding SATS Class B Common Stock 28.8M May 13, 2024 Class A Common Stock 28.8M I F8, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the terms of the Ergen Two-Year May 2023 DISH GRAT (the "2023 May GRAT"), 9,122,802 Class A shares and 2,261,098 Class B shares held by the 2023 May GRAT were distributed as an annuity to Mr. Ergen on May 13, 2024. Following this distribution, the 2023 May GRAT holds 7,563,458 Class B shares and is scheduled to expire on May 12, 2025. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
F2 By 401(K).
F3 Held by Mrs. Cantey M. Ergen, Mr. Ergen's spouse.
F4 Held by Mrs. Ergen in a 401(k) account.
F5 The shares are owned beneficially by the reporting persons' child. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
F6 The shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
F7 The shares are held by Telluray Holdings, LLC. Mr. Ergen and Mrs. Ergen are the managers of Telluray Holdings, LLC. Mrs. Ergen, as a manager of Telluray Holdings, LLC, has sole voting power over the Class A shares and Class B shares held by Telluray Holdings, LLC, and Mr. Ergen and Mrs. Ergen, as the managers of Telluray Holdings, LLC, share dispositive power over the Class A shares and Class B shares held by Telluray Holdings, LLC. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
F8 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.
F9 On May 13, 2024, Charles W. Ergen established the Ergen Two-Year May 2024 SATS GRAT (the "2024 May GRAT") and contributed 6,000,000 Class B shares to the 2024 May GRAT. The 2024 May GRAT 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. The 2024 May GRAT is scheduled to expire in accordance with its terms on May 13, 2026. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
F10 On June 23, 2022, Mr. Ergen established the Ergen Two-Year June 2022 SATS GRAT (the "2022 June GRAT") and contributed a total of 7,000,000 Class B shares to such trust. The 2022 June GRAT currently holds 2,687,900 Class B shares. The 2022 June GRAT is scheduled to expire in accordance with its terms on June 23, 2024. Mrs. Cantey M. Ergen serves as the trustee of the 2022 June GRAT.
F11 On December 21, 2022, Mr. 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. The 2022 December GRAT currently holds 5,181,574 Class B shares and 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.
F12 On June 23, 2023, Mr. Ergen established the Ergen Two-Year June 2023 SATS GRAT (the "2023 June GRAT") and contributed a total of 14,500,000 Class B shares to such trust. The 2023 June GRAT is scheduled to expire in accordance with its terms on June 23, 2025. Mrs. Cantey M. Ergen serves as the trustee of the 2023 June GRAT.
F13 On June 26, 2023, Mr. Ergen established the Ergen Two-Year June 2023 DISH GRAT (the "2023 June DISH GRAT") and contributed a total of 89,500,000 DISH Network Corporation ("DISH") Class B shares to such trust. In connection with the Merger between EchoStar Corporation and DISH, as defined in each companies respective SEC filings (the "Merger"), such shares converted into the right to receive 31,403,491 EchoStar Class B shares. The 2023 June DISH GRAT is scheduled to expire in accordance with its terms on June 26, 2025. Mrs. Cantey M. Ergen serves as the trustee of the 2023 June DISH GRAT.
F14 On December 22, 2023, Mr. Ergen established the Ergen Two-Year December 2023 SATS GRAT (the "2023 December GRAT") and contributed a total of 8,800,000 EchoStar Class B shares and 57,000,000 DISH Class B shares to such trust. In connection with the Merger, such DISH Class B shares converted into the right to receive 19,999,989 EchoStar Class B shares. The 2023 December GRAT currently holds 28,799,989 Class B shares and is scheduled to expire in accordance with its terms on December 22, 2025. Mrs. Cantey M. Ergen serves as the trustee of the 2023 December GRAT.