Ergen Two-Year May 2018 DISH GRAT 4
4 · DISH Network CORP · Filed May 13, 2019
Insider Transaction Report
Form 4
Ergen Two-Year May 2018 DISH GRAT
10% Owner
Transactions
- Gift
Class B Common Stock
2019-05-09−13,427,212→ 18,572,788 total→ Class A Common Stock (13,427,212 underlying)
Footnotes (2)
- [F1]On May 9, 2018, Mr. Charles W. Ergen established a Grantor Retained Annuity Trust ("GRAT"), the Ergen Two-Year May 2018 DISH GRAT (the "Two-Year May 2018 GRAT") and contibuted 32,000,000 Class B shares to the Two-Year May 2018 GRAT. The Two-Year May 2018 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 Two-Year May 2018 GRAT is scheduled to expire in accordance with its terms on May 9, 2020. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
- [F2]Pursuant to the terms of the Two-Year May 2018 GRAT, 13,472,212 Class B shares were distributed as an annuity to Mr. Ergen on May 9, 2019. Following this distribution, the Two-Year May 2018 GRAT retained 18,572,788 Class B shares.