Two-Year December 2023 Sats Grat Ergen - 22 Dec 2025 Form 4 Insider Report for EchoStar CORP (SATS)

Role: 10%+ Owner
Signature: /s/ Mrs. Cantey M. Ergen, Trustee of the Ergen Two-Year December 2023 SATS GRAT, by Dean A. Manson, Attorney-in-Fact
Issuer symbol: SATS
Transactions as of: 22 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 29 Dec 2025, 19:08:48 UTC
Previous filing: 03 Jan 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Ergen Two-Year December 2023 SATS GRAT	10%+ Owner	9601 S. MERIDIAN BLVD., ENGLEWOOD	/s/ Mrs. Cantey M. Ergen, Trustee of the Ergen Two-Year December 2023 SATS GRAT, by Dean A. Manson, Attorney-in-Fact	29 Dec 2025	0002006151

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	-19,038,378	-100%	$0.000000	0	22 Dec 2025	Class A Common Stock	19,038,378		Direct	F1, F2

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

Two-Year December 2023 Sats Grat Ergen is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The holder of the Class B shares 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	Pursuant to the terms of the Ergen Two-Year December 2023 SATS GRAT (the "2023 December GRAT"), on December 22, 2025, the 2023 December GRAT: (i) distributed 2,060,220 Class B shares held by the 2023 December GRAT to Mr. Ergen as an annuity payment; and (ii) contributed the remaining 16,978,158 Class B shares to Telluray Holdings, LLC ("Telluray Holdings") in exchange for membership units in Telluray Holdings, and the 2023 December GRAT expired in accordance with its terms.

Content

The holder of the Class B shares 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.

Pursuant to the terms of the Ergen Two-Year December 2023 SATS GRAT (the "2023 December GRAT"), on December 22, 2025, the 2023 December GRAT: (i) distributed 2,060,220 Class B shares held by the 2023 December GRAT to Mr. Ergen as an annuity payment; and (ii) contributed the remaining 16,978,158 Class B shares to Telluray Holdings, LLC ("Telluray Holdings") in exchange for membership units in Telluray Holdings, and the 2023 December GRAT expired in accordance with its terms.