Telluray Holdings, LLC 4

What Happened
Telluray Holdings, LLC (reported as a 10% owner) acquired 2,925,750 Class B shares of EchoStar Corporation (SATS) on May 13, 2026. The shares were received at $0.00 (transaction code J — "other acquisition or disposition") and are reported as derivative securities; total cash consideration reported is $0. According to the filing, the shares were contributed to Telluray Holdings by the Ergen Two-Year May 2024 SATS GRAT in exchange for membership units in Telluray Holdings.

Key Details

• Transaction date: 2026-05-13; filing date: 2026-05-15 (filed timely).
• Shares: 2,925,750 Class B shares acquired; price reported $0.00; total reported value $0.
• Transaction code: J (other acquisition/disposition); securities reported as derivative.
• Post-transaction holdings: not specified in the provided summary of the filing.
• Notable footnotes:
  • F1: Charles W. Ergen and spouse Cantey M. Ergen are managers of Telluray Holdings; Mrs. Ergen has sole voting power over shares held by Telluray Holdings, and the managers share dispositive power.
  • F2: Class B shares are convertible at any time into an equal number of Class A shares at no additional consideration.
  • F3: The 2,925,750 Class B shares were contributed by the Ergen Two-Year May 2024 SATS GRAT to the Reporting Person in exchange for membership units.

Context
This was an internal, non‑cash transfer from a grantor retained annuity trust (GRAT) to Telluray Holdings rather than an open‑market purchase or sale. For retail investors, such transfers are typically related to estate or ownership-structure management and do not necessarily signal a market view. As a reported 10% owner (an entity-level filing), this is institutional/ownership reporting tied to family/manager control rather than a standard executive buy/sell.