4//SEC Filing
Allen James S. 4
Accession 0001415889-22-007968
CIK 0001001082other
Filed
Jul 25, 8:00 PM ET
Accepted
Jul 26, 6:32 PM ET
Size
15.9 KB
Accession
0001415889-22-007968
Insider Transaction Report
Form 4
Allen James S.
SVP, CHIEF ACCOUNTING OFFICER
Transactions
- Disposition to Issuer
Employee Stock Option (Right To Buy)
2022-07-22−20,000→ 0 totalExercise: $31.73Exp: 2032-02-01→ Class A Common Stock (20,000 underlying) - Award
Employee Stock Option (Right To Buy)
2022-07-22+20,000→ 20,000 totalExercise: $20.00Exp: 2032-07-22→ Class A Common Stock (20,000 underlying) - Disposition to Issuer
Employee Stock Option (Right To Buy)
2022-07-22−50,000→ 0 totalExercise: $36.80Exp: 2031-04-01→ Class A Common Stock (50,000 underlying) - Award
Employee Stock Option (Right To Buy)
2022-07-22+10,000→ 10,000 totalExercise: $20.00Exp: 2032-07-22→ Class A Common Stock (10,000 underlying) - Award
Employee Stock Option (Right To Buy)
2022-07-22+40,000→ 40,000 totalExercise: $20.00Exp: 2032-07-22→ Class A Common Stock (40,000 underlying)
Footnotes (5)
- [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 June 24, 2022, which expired on July 22, 2022 (the "Exchange"). Effective July 22, 2022, the Issuer cancelled the options the Reporting Person elected to exchange and granted to the Reporting Person an identical number of options with, among other new terms, a new exercise price and an extended vesting schedule for options that are not subject to achievement of certain performance criteria. The new exercise price is $20, which is higher than the closing price per share of the Issuer's Class A Common Stock on the Nasdaq Global Select Market of $18.70 on July 22, 2022.
- [F2]The shares underlying the options were scheduled to vest at the rate of 20% per year, commencing upon April 1, 2022.
- [F3]Pursuant to the Exchange, the Reporting Person exchanged 10,000 vested options granted on April 1, 2021 for a total exchange of 10,000 vested options. 40% of the shares underlying these options vest immediately upon the grant date. The remaining 60% of the shares underlying these options vest 20% per year on each of July 1, 2023, July 1, 2024 and July 1, 2025.
- [F4]Pursuant to the Exchange, the Reporting Person exchanged 40,000 unvested options granted April 1, 2021 for a total exchange of 40,000 unvested options. The shares underlying these options vest 20% per year on each of July 1, 2023, July 1, 2024, July 1, 2025, July 1, 2026 and July 1, 2027.
- [F5]The grant is subject to achievement of certain performance criteria prior to December 31, 2026 and will vest based on achievement of such criteria. The performance criteria are not tied to the market price of the Issuer's securities.
Documents
Issuer
DISH Network CORP
CIK 0001001082
Entity typeother
Related Parties
1- filerCIK 0001496504
Filing Metadata
- Form type
- 4
- Filed
- Jul 25, 8:00 PM ET
- Accepted
- Jul 26, 6:32 PM ET
- Size
- 15.9 KB