Ergen Two-Year December 2023 SATS GRAT 4
4 · EchoStar CORP · Filed Dec 29, 2025
Insider Transaction Report
Form 4Exit
EchoStar CORPSATS
Transactions
- Gift
Class B Common Stock
[F1][F2]2025-12-22−19,038,378→ 0 total→ Class A Common Stock (19,038,378 underlying)
Footnotes (2)
- [F1]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.
- [F2]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.
Signature
/s/ Mrs. Cantey M. Ergen, Trustee of the Ergen Two-Year December 2023 SATS GRAT, by Dean A. Manson, Attorney-in-Fact|2025-12-29