Ergen Two-Year December 2019 DISH GRAT 4
4 · DISH Network CORP · Filed Dec 7, 2020
Insider Transaction Report
Form 4
Transactions
- Gift
Class B Common Stock
2020-12-03−13,511,743→ 18,488,257 total→ Class A Common Stock (13,511,743 underlying)
Footnotes (2)
- [F1]On December 3, 2019, Mr. Charles W. Ergen established a Grantor Retained Annuity Trust ("GRAT"), the Ergen Two-Year December 2019 DISH GRAT (the "Two-Year December 2019 GRAT") and contributed 32,000,000 Class B shares to the Two-Year December 2019 GRAT. The Two-Year December 2019 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. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
- [F2]Pursuant to the terms of the Two-Year December 2019 GRAT, 13,511,743 Class B shares were distributed as an annuity to Mr. Ergen on December 3, 2020. Following this distribution, the Two-Year December 2019 GRAT beneficially owns 18,488,257 Class B Shares. The Two-Year December 2019 GRAT is scheduled to expire in accordance with its terms on December 3, 2021.