Ergen Two-Year December 2023 SATS GRAT sold SATS
December 22, 2025 · Form 4 insider transaction
Ergen Two-Year December 2023 SATS GRAT sold 19,038,378 shares of EchoStar Corporation at $0.00 per share, a transaction worth N/A. The trade was recorded as gift and disclosed on an SEC Form 4, filed 7 days after the transaction.
Footnotes
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.