EchoStar CORP (ECHO) insiders shift Class B shares via GRATs, gifts
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
EchoStar CORP insiders Charles W. and Cantey Ergen reported several transfers of Class B Common Stock on July 10, 2026. The Ergen Two-Year July 2024 SATS GRAT distributed 2,622,061 Class B shares to Mr. Ergen as an annuity and contributed 15,939,781 Class B shares to Telluray Holdings, LLC.
In addition, an indirect holder associated with the reporting persons made a bona fide gift of 18,561,842 Class B shares. After these transactions, a reported indirect Class B holding showed 76,457,283 shares, while Mr. Ergen’s direct Class B holding was 5,010,508 shares, with further Class B shares held in several two-year SATS GRATs scheduled to expire in 2027 and 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
21,183,903 shares gifted
Mixed
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 | 18,561,842 | $0.00 | -- |
| Gift | Class B Common Stock | 2,622,061 | $0.00 | -- |
| Other | Class B Common Stock | 15,939,781 | $0.00 | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 0 shares (Indirect, I);
Class B Common Stock — 5,010,508 shares (Direct);
Class A Common Stock — 11,140,269 shares (Direct);
Class A Common Stock — 11,404 shares (Indirect, I)
Footnotes (1)
- By 401(K). Held by Mrs. Cantey M. Ergen, Mr. Ergen's spouse. Held by Mrs. Ergen in a 401(k) account. 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. 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. 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. 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. 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. Pursuant to the terms of the Ergen Two-Year July 2024 SATS GRAT (the "2024 July GRAT"), on July 10, 2026, the 2024 July GRAT: (i) distributed 2,622,061 Class B shares held by the 2024 July GRAT to Mr. Ergen as an annuity; and (ii) contributed the remaining 15,939,781 to Telluray Holdings, LLC in exchange for membership units in Telluray Holdings and the Two-Year July 2024 GRAT expired in accordance with its terms. 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. 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. 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. 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
Class B shares gifted: 21,183,903 shares
GRAT contribution to Telluray Holdings: 15,939,781 Class B shares
Annuity distribution to Charles W. Ergen: 2,622,061 Class B shares
+5 more
8 metrics
Class B shares gifted
21,183,903 shares
Total bona fide gifts reported across two G-code Class B transactions
GRAT contribution to Telluray Holdings
15,939,781 Class B shares
Contributed by the Ergen Two-Year July 2024 SATS GRAT to Telluray Holdings, LLC
Annuity distribution to Charles W. Ergen
2,622,061 Class B shares
Distributed from the Ergen Two-Year July 2024 SATS GRAT as an annuity on July 10, 2026
Indirect Class B holding after restructuring
76,457,283 shares
Indirect Class B Common Stock position after J-code restructuring transaction
Direct Class B holding after gift
5,010,508 shares
Direct Class B Common Stock held following a G-code transaction on July 10, 2026
2025 May SATS GRAT holdings
23,097,210 Class B shares
Currently held by the Ergen Two-Year May 2025 SATS GRAT, expiring May 13, 2027
2025 June SATS GRAT holdings
14,483,467 Class B shares
Currently held by the Ergen Two-Year June 2025 SATS GRAT, expiring June 26, 2027
June 2026 SATS GRAT contribution
4,300,000 Class B shares
Contributed to the June 2026 SATS GRAT, scheduled to expire June 15, 2028
Key Terms
bona fide gift, disclaim beneficial ownership, voting and dispositive power, pecuniary interest, +1 more
5 terms
bona fide gift financial
"Transaction code G is described as a "Bona fide gift" for Class B shares"
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.
disclaim beneficial ownership regulatory
"The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest"
voting and dispositive power regulatory
"officers of the charitable foundation and share voting and dispositive power for the foundation"
pecuniary interest financial
"The reporting persons disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest therein"
SATS GRAT financial
"Ergen Two-Year July 2024 SATS GRAT and other SATS GRAT structures holding Class B shares"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What are Charles W. Ergen’s Class B holdings after these EchoStar (ECHO) transactions?
Reported holdings associated with Charles W. Ergen include a direct Class B position of 5,010,508 shares. The filing also describes an indirect Class B position of 76,457,283 shares and additional Class B shares in several two-year SATS GRATs expiring in 2027 and 2028.
Did the EchoStar (ECHO) Form 4 include any open-market stock trades?
No open-market purchases or sales were reported. The transaction summary shows 0 buy and sell transactions, with activity limited to bona fide gifts totaling 21,183,903 Class B shares and a 15,939,781-share restructuring transfer related to a 2024 two-year SATS GRAT.