EchoStar Corp (ECHO) leaders shift 5M Class B shares into new GRAT
Rhea-AI Filing Summary
EchoStar Corp insiders Charles W. Ergen and Cantey M. Ergen reported a bona fide gift of 5,000,000 Class B shares on July 20, 2026, contributing them to the new Ergen Two-Year July 2026 ECHO GRAT, which can be converted into an equal number of Class A shares for no additional consideration.
After the transfer, Charles Ergen directly held 10,508 Class B and 11,140,269 Class A shares, alongside substantial indirect positions in Class B (convertible into Class A) through several GRATs, an LLC and family and charitable entities, where beneficial ownership is largely disclaimed except for their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
10,000,000 shares gifted
Gift
15 txns
Insider
ERGEN CHARLES W, ERGEN CANTEY
Role
CHAIRMAN, PRES and CEO | Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class B Common Stock F8, F9 | 5,000,000 | $0.00 | $0.00 |
| Gift | Class B Common Stock F8, F9 | 5,000,000 | $0.00 | $0.00 |
| holding | Class B Common Stock F8, F6 | -- | -- | -- |
| holding | Class B Common Stock F8, F10 | -- | -- | -- |
| holding | Class B Common Stock F8, F11 | -- | -- | -- |
| holding | Class B Common Stock F8, F12 | -- | -- | -- |
| holding | Class B Common Stock F8, F13 | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock F1 | -- | -- | -- |
| holding | Class A Common Stock F2 | -- | -- | -- |
| holding | Class A Common Stock F3 | -- | -- | -- |
| holding | Class A Common Stock F4 | -- | -- | -- |
| holding | Class A Common Stock F5 | -- | -- | -- |
| holding | Class A Common Stock F6 | -- | -- | -- |
| holding | Class A Common Stock F7 | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 10,508 shares (Direct);
Class B Common Stock — 131,337,960 shares (Indirect, I);
Class A Common Stock — 11,140,269 shares (Direct);
Class A Common Stock — 4,695,280 shares (Indirect, I)
Footnotes (13)
- F1. By 401(K).
- F2. Held by Mrs. Cantey M. Ergen, Mr. Ergen's spouse.
- F3. Held by Mrs. Ergen in a 401(k) account.
- F4. The shares are owned beneficially by the reporting persons' child. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
- F5. The shares are held by a charitable foundation. The reporting persons are officers of the charitable foundation and share voting and dispositive power for the foundation. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
- F6. The shares are held by Telluray Holdings, LLC. Mr. Ergen and Mrs. Ergen are the managers of Telluray Holdings, LLC. Mrs. Ergen, as a manager of Telluray Holdings, LLC, has sole voting power over the Class A shares and Class B shares held by Telluray Holdings, LLC, and Mr. Ergen and Mrs. Ergen, as the managers of Telluray Holdings, LLC, share dispositive power over the Class A shares and Class B shares held by Telluray Holdings, LLC. The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein.
- F7. These shares are beneficially owned indirectly by Mr. Ergen through nXgen Opportunities, LLC, which controls CONX Corp. The reporting persons disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein.
- F8. The holder of Class B shares may elect to convert any or all of their Class B shares into an equal number of Class A shares at any time for no additional consideration.
- F9. On July 20, 2026, Mr. Ergen established the Ergen Two-Year July 2026 ECHO GRAT (the "July 2026 GRAT") and contributed 5,000,000 Class B shares to the July 2026 GRAT. The July 2026 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 July 2026 GRAT is scheduled to expire in accordance with its terms on July 20, 2028. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
- F10. On May 13, 2025, Mr. Ergen established the Ergen Two-Year May 2025 SATS GRAT (the "2025 May GRAT") and contributed 26,000,000 Class B shares to the 2025 May GRAT. The 2025 May GRAT currently holds 23,097,210 Class B shares. The 2025 May GRAT is scheduled to expire in accordance with its terms on May 13, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 May GRAT.
- F11. On June 26, 2025, Mr. Ergen established the Ergen Two-Year June 2025 SATS GRAT (the "2025 June GRAT") and contributed 16,800,000 Class B shares to the 2025 June GRAT. The 2025 June GRAT currently holds 14,483,467 Class B shares. The 2025 June GRAT is scheduled to expire in accordance with its terms on June 26, 2027. Mrs. Cantey M. Ergen serves at the trustee of the 2025 June GRAT.
- F12. On July 29, 2025, Mr. Ergen established the Ergen Two-Year July 2025 SATS GRAT (the "2025 July GRAT") and contributed 8,000,000 Class B shares to the 2025 July GRAT. The 2025 July GRAT is scheduled to expire in accordance with its terms on July 29, 2027. Mrs. Cantey M. Ergen serves as the trustee of the 2025 July GRAT.
- F13. On June 15, 2026, Mr. Ergen established the Ergen Two-Year June 2026 SATS GRAT (the "June 2026 GRAT") and contributed 4,300,000 Class B shares to the June 2026 GRAT. The June 2026 GRAT is scheduled to expire in accordance with its terms on June 15, 2028. Mrs. Cantey M. Ergen serves as the trustee of such GRAT.
Key Figures
Gifted Class B shares: 5,000,000 shares
Direct Class B shares after gift: 10,508 shares
Direct Class A shares: 11,140,269 shares
+5 more
8 metrics
Gifted Class B shares
5,000,000 shares
Bona fide gift to the Ergen Two-Year July 2026 ECHO GRAT on July 20, 2026
Direct Class B shares after gift
10,508 shares
Charles W. Ergen direct Class B holdings following the July 20, 2026 transaction
Direct Class A shares
11,140,269 shares
Charles W. Ergen direct Class A common stock holdings as of July 20, 2026
Telluray Holdings underlying Class A
76,457,283 shares
Class A shares underlying Class B held indirectly through Telluray Holdings, LLC
2025 May GRAT underlying Class A
23,097,210 shares
Class A shares underlying Class B in the Ergen Two-Year May 2025 SATS GRAT
2025 June GRAT underlying Class A
14,483,467 shares
Class A shares underlying Class B in the Ergen Two-Year June 2025 SATS GRAT
2025 July GRAT underlying Class A
8,000,000 shares
Class A shares underlying Class B in the Ergen Two-Year July 2025 SATS GRAT
June 2026 GRAT underlying Class A
4,300,000 shares
Class A shares underlying Class B in the Ergen Two-Year June 2026 SATS GRAT
Key Terms
bona fide gift, GRAT, pecuniary interest, dispositive power, +1 more
5 terms
bona fide gift regulatory
"Transaction code G is described as a bona fide gift."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
GRAT financial
"On July 20, 2026, Mr. Ergen established the Ergen Two-Year July 2026 ECHO GRAT."
pecuniary interest financial
"The reporting persons disclaim beneficial ownership, except to the extent of their pecuniary interest."
dispositive power financial
"The reporting persons share dispositive power over the shares held by Telluray Holdings, LLC."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
voting power financial
"Mrs. Ergen has sole voting power over certain Class A and Class B shares."
Voting power is the ability shareholders have to influence a company's major decisions—like electing the board, approving mergers, or changing corporate rules—based on the voting rights attached to the shares they hold. For investors it matters because greater voting power is like holding more keys to a building: it gives you a stronger say over management choices and the company’s strategy, which can affect future value and risk.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did EchoStar (ECHO) report on July 20, 2026?
EchoStar insiders Charles W. and Cantey M. Ergen reported a bona fide gift of 5,000,000 Class B shares on July 20, 2026. The shares were contributed to a new two-year ECHO GRAT that may convert them into an equal number of Class A shares for no additional consideration.
What is the July 2026 ECHO GRAT mentioned in the EchoStar (ECHO) filing?
The July 2026 ECHO GRAT is a two-year trust to which 5,000,000 Class B shares were contributed. According to the filing, it may convert any or all of its Class B shares into an equal number of Class A shares and is scheduled to expire on July 20, 2028.
Are the EchoStar (ECHO) insider transactions under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not checked, indicating the reported transactions were not affirmed as made under a Rule 10b5-1 trading plan. The Form 4 instead characterizes the movements as bona fide gifts and changes in indirect ownership structures.